BlueLinx (NYSE:BXC) Stock Price Down 5.5% – Should You Sell?

BlueLinx Holdings Inc. (NYSE:BXC) shares fell 5.5% during mid-day trading on Tuesday. The stock traded as low as $73.87 and last traded at $74.3950. Approximately 111,480 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 137,053 shares. The stock had previously closed at $78.74.

Wall Street Analyst Weigh In

BXC has been the topic of several research reports. Citigroup initiated coverage on shares of BlueLinx in a research note on Thursday, September 24th. They set a “market perform” rating on the stock. Benchmark increased their target price on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. Finally, Citizens Jmp assumed coverage on shares of BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating for the company. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BlueLinx presently has a consensus rating of “Hold” and a consensus price target of $83.50.

BlueLinx Stock Down 11.1%

The company has a market capitalization of $520.53 million, a P/E ratio of -127.35 and a beta of 1.47. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $75.65 and its 200 day moving average is $64.95.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, November 3rd. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $812.61 million for the quarter, compared to analyst estimates of $814.17 million. BlueLinx had a negative net margin of 0.14% and a positive return on equity of 0.42%. Research analysts predict that BlueLinx Holdings Inc. will post 1.00 EPS for the current fiscal year.

Institutional Trading of BlueLinx

Several large investors have recently modified their holdings of BXC. SummerHaven Investment Management LLC bought a new position in BlueLinx during the 3rd quarter valued at approximately $595,000. WINTON GROUP Ltd purchased a new stake in BlueLinx in the 2nd quarter worth approximately $364,000. Squarepoint Ops LLC grew its position in shares of BlueLinx by 8.3% in the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock worth $595,000 after buying an additional 734 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of BlueLinx in the 2nd quarter worth approximately $788,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of BlueLinx in the 2nd quarter worth approximately $1,571,000. 90.83% of the stock is owned by institutional investors.

BlueLinx Company Profile

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.