BlueLinx (NYSE:BXC) Reaches New 1-Year Low – Here’s What Happened

BlueLinx Holdings Inc. (NYSE:BXC) reached a new 52-week low during trading on Thursday . The stock traded as low as $80.21 and last traded at $81.38, with a volume of 14264 shares trading hands. The stock had previously closed at $84.00.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Loop Capital lowered their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Benchmark dropped their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. DA Davidson lowered their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

BlueLinx Trading Down 3.6 %

The stock’s 50-day simple moving average is $102.20 and its 200-day simple moving average is $107.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The firm has a market capitalization of $671.44 million, a PE ratio of 13.18 and a beta of 2.04.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a net margin of 1.80% and a return on equity of 7.50%. The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million.

Institutional Investors Weigh In On BlueLinx

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXC. Victory Capital Management Inc. raised its stake in shares of BlueLinx by 600.3% in the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after buying an additional 187,456 shares during the period. Harbor Capital Advisors Inc. raised its stake in BlueLinx by 151.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock valued at $14,463,000 after purchasing an additional 82,657 shares during the period. River Road Asset Management LLC purchased a new stake in BlueLinx in the 4th quarter worth $7,541,000. Charles Schwab Investment Management Inc. grew its stake in shares of BlueLinx by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock worth $17,624,000 after buying an additional 36,968 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of BlueLinx in the 4th quarter valued at approximately $3,451,000. Hedge funds and other institutional investors 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.