BlueLinx (NYSE:BXC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of BlueLinx (NYSE:BXC) from a hold rating to a sell rating in a research report sent to investors on Friday.

A number of other analysts have also recently weighed in on BXC. Benchmark reduced their target price on shares of BlueLinx from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Loop Capital reduced their target price on shares of BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, DA Davidson cut shares of BlueLinx from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $110.00.

BlueLinx Trading Down 10.0%

Shares of NYSE:BXC opened at $74.15 on Friday. The stock has a market capitalization of $594.68 million, a price-to-earnings ratio of 16.55 and a beta of 1.90. BlueLinx has a 1-year low of $63.14 and a 1-year high of $134.79. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.73 and a current ratio of 4.16. The company has a 50 day moving average price of $73.13 and a 200 day moving average price of $81.30.

Hedge Funds Weigh In On BlueLinx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its stake in shares of BlueLinx by 14.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,113 shares of the construction company’s stock valued at $233,000 after buying an additional 404 shares during the period. Intech Investment Management LLC boosted its stake in shares of BlueLinx by 48.1% during the 4th quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company’s stock valued at $287,000 after buying an additional 914 shares during the period. GAMMA Investing LLC boosted its stake in shares of BlueLinx by 42,890.0% during the 1st quarter. GAMMA Investing LLC now owns 12,897 shares of the construction company’s stock valued at $967,000 after buying an additional 12,867 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of BlueLinx during the 4th quarter valued at $61,000. Finally, SG Americas Securities LLC boosted its stake in shares of BlueLinx by 63.7% during the 1st quarter. SG Americas Securities LLC now owns 3,992 shares of the construction company’s stock valued at $299,000 after buying an additional 1,554 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.