BlueLinx (NYSE:BXC) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

BlueLinx Holdings Inc. (NYSE:BXC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $71.33 and traded as high as $77.00. BlueLinx shares last traded at $75.0350, with a volume of 89,219 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BXC shares. DA Davidson set a $68.00 price target on shares of BlueLinx in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $88.67.

BlueLinx Stock Performance

The company has a market cap of $590.53 million, a P/E ratio of 44.14 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.60 and a quick ratio of 3.15. The stock has a fifty day moving average price of $63.69 and a two-hundred day moving average price of $71.33.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, November 4th. The construction company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). BlueLinx had a net margin of 0.48% and a return on equity of 1.41%. The company had revenue of $748.87 million during the quarter, compared to the consensus estimate of $757.15 million.

Hedge Funds Weigh In On BlueLinx

Several large investors have recently made changes to their positions in BXC. Exchange Traded Concepts LLC lifted its holdings in shares of BlueLinx by 11.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,055 shares of the construction company’s stock valued at $249,000 after purchasing an additional 418 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of BlueLinx by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 16,730 shares of the construction company’s stock worth $1,028,000 after buying an additional 3,390 shares during the last quarter. Voss Capital LP boosted its position in BlueLinx by 24.5% during the third quarter. Voss Capital LP now owns 60,000 shares of the construction company’s stock worth $4,385,000 after purchasing an additional 11,790 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in BlueLinx by 24.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 115,248 shares of the construction company’s stock worth $8,422,000 after acquiring an additional 22,611 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in BlueLinx by 34.6% during the 3rd quarter. Verition Fund Management LLC now owns 5,039 shares of the construction company’s stock valued at $368,000 after purchasing an additional 1,294 shares during the period. Institutional investors own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.