BlueLinx (NYSE:BXC) Stock Price Down 9.4% – Time to Sell?

BlueLinx Holdings Inc. (NYSE:BXC) dropped 9.4% during trading on Monday . The company traded as low as $66.20 and last traded at $65.9350. Approximately 30,538 shares changed hands during trading, a decline of 65% from the average daily volume of 87,368 shares. The stock had previously closed at $72.74.

Analysts Set New Price Targets

A number of research firms recently weighed in on BXC. DA Davidson set a $68.00 price target on shares of BlueLinx in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has assigned 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 an average rating of “Hold” and a consensus price target of $88.67.

BlueLinx Stock Down 8.3%

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 market capitalization of $524.98 million, a price-to-earnings ratio of 39.24 and a beta of 1.62. The firm’s fifty day moving average is $70.00 and its 200-day moving average is $70.55.

Institutional Trading of BlueLinx

Several institutional investors and hedge funds have recently bought and sold shares of BXC. Royal Bank of Canada lifted its holdings in BlueLinx by 4.3% during the 1st quarter. Royal Bank of Canada now owns 7,870 shares of the construction company’s stock worth $590,000 after buying an additional 321 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of BlueLinx by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 48,257 shares of the construction company’s stock valued at $3,618,000 after acquiring an additional 9,538 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BlueLinx by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company’s stock valued at $365,000 after acquiring an additional 220 shares in the last quarter. Allianz Asset Management GmbH bought a new position in BlueLinx during the second quarter worth $785,000. Finally, SG Americas Securities LLC lifted its stake in BlueLinx by 100.4% during the second quarter. SG Americas Securities LLC now owns 7,998 shares of the construction company’s stock worth $595,000 after purchasing an additional 4,006 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

About BlueLinx

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.