BlueLinx (NYSE:BXC) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of BlueLinx Holdings Inc. (NYSE:BXC) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $60.22 and traded as high as $79.37. BlueLinx shares last traded at $74.57, with a volume of 117,734 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. DA Davidson boosted their price target on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. Wall Street Zen upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Benchmark upped their target price on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.50.

BlueLinx Stock Up 1.8%

The firm has a 50-day moving average of $68.53 and a two-hundred day moving average of $60.23. The firm has a market cap of $606.79 million, a price-to-earnings ratio of -308.79 and a beta of 1.45. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.30 by $0.85. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.The company had revenue of $814.08 million for the quarter, compared to the consensus estimate of $793.72 million.

Institutional Trading of BlueLinx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in shares of BlueLinx during the fourth quarter valued at $31,000. Tower Research Capital LLC TRC grew its holdings in shares of BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock worth $59,000 after purchasing an additional 422 shares during the last quarter. State of Wyoming increased its position in shares of BlueLinx by 19.5% during the 4th quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock worth $89,000 after purchasing an additional 238 shares in the last quarter. Comerica Bank increased its position in shares of BlueLinx by 5,468.2% during the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Inceptionr LLC bought a new position in BlueLinx during the 3rd quarter valued at about $230,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

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.