BlueLinx (NYSE:BXC) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

BlueLinx Holdings Inc. (NYSE:BXC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.35 and traded as high as $64.05. BlueLinx shares last traded at $63.6650, with a volume of 135,791 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BXC shares. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BlueLinx presently has an average rating of “Hold” and a consensus price target of $71.50.

BlueLinx Stock Down 2.5%

The stock has a market capitalization of $495.44 million, a P/E ratio of -122.43 and a beta of 1.45. The company has a current ratio of 3.90, a quick ratio of 2.51 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $53.91 and its 200 day simple moving average is $60.35.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, May 5th. The construction company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.93. The company had revenue of $731.15 million during the quarter, compared to the consensus estimate of $714.84 million. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%.

Institutional Trading of BlueLinx

Several hedge funds and other institutional investors have recently bought and sold shares of BXC. Empowered Funds LLC lifted its holdings in BlueLinx by 42.7% during the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock worth $5,961,000 after buying an additional 32,943 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of BlueLinx by 124.7% in the 1st quarter. Quantinno Capital Management LP now owns 34,657 shares of the construction company’s stock worth $1,878,000 after acquiring an additional 19,236 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of BlueLinx by 2.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock valued at $17,439,000 after acquiring an additional 6,538 shares during the last quarter. Sei Investments Co. increased its holdings in shares of BlueLinx by 92.1% in the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock valued at $3,229,000 after acquiring an additional 28,571 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of BlueLinx by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock valued at $27,771,000 after acquiring an additional 2,008 shares in the last quarter. 90.83% of the stock is owned by institutional investors.

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.