BlueLinx (NYSE:BXC) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

BlueLinx Holdings Inc. (NYSE:BXC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $71.33 and traded as high as $77.00. BlueLinx shares last traded at $75.0350, with a volume of 89,219 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. DA Davidson set a $68.00 price target on BlueLinx in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.67.

BlueLinx Stock Up 1.7%

The business’s 50-day moving average is $63.69 and its two-hundred day moving average is $71.33. The firm has a market capitalization of $590.53 million, a price-to-earnings ratio of 44.14 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.15 and a current ratio of 4.60.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, November 4th. The construction company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.06). The firm had revenue of $748.87 million during the quarter, compared to the consensus estimate of $757.15 million. BlueLinx had a net margin of 0.48% and a return on equity of 1.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in shares of BlueLinx by 86.2% in the 3rd quarter. Versant Capital Management Inc now owns 350 shares of the construction company’s stock valued at $26,000 after purchasing an additional 162 shares during the period. State of Alaska Department of Revenue bought a new position in BlueLinx in the third quarter valued at approximately $29,000. Rock Creek Group LP acquired a new position in shares of BlueLinx in the third quarter valued at approximately $37,000. Tower Research Capital LLC TRC increased its position in shares of BlueLinx by 114.1% during the second quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock worth $59,000 after acquiring an additional 422 shares in the last quarter. Finally, Comerica Bank increased its position in shares of BlueLinx by 5,468.2% during the third quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after acquiring an additional 1,203 shares in the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

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.