BlueLinx Holdings Inc. (NYSE:BXC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

BlueLinx Holdings (NYSE BXC) traded down 3.527% during midday trading on Monday, reaching $9.985. 30,184 shares of the company’s stock traded hands. BlueLinx Holdings has a 52-week low of $6.36 and a 52-week high of $11.28. The firm has a market cap of $90.56 million, a PE ratio of 4.010 and a beta of 2.29. The firm’s 50-day moving average is $10.77 and its 200 day moving average is $8.98.

BlueLinx Holdings (NYSE:BXC) last issued its earnings results on Thursday, May 4th. The construction company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $428.61 million for the quarter. BlueLinx Holdings had a net margin of 1.24% and a negative return on equity of 2.96%. Equities research analysts expect that BlueLinx Holdings will post ($0.21) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Weber Alan W boosted its position in BlueLinx Holdings by 45.4% in the second quarter. Weber Alan W now owns 84,779 shares of the construction company’s stock valued at $927,000 after buying an additional 26,480 shares during the last quarter. Algert Global LLC bought a new position in BlueLinx Holdings during the second quarter valued at $364,000. Finally, Spark Investment Management LLC boosted its position in BlueLinx Holdings by 38.7% in the second quarter. Spark Investment Management LLC now owns 16,500 shares of the construction company’s stock valued at $180,000 after buying an additional 4,600 shares during the last quarter. 75.28% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Holdings Company Profile

BlueLinx Holdings, Inc is a distributor of building products in North America. The Company operates its distribution business through a network of approximately 40 distribution centers. It serves metropolitan areas in the United States and delivers building products to a range of wholesale and retail customers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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