BlueLinx (NYSE:BXC) Shares Down 9.4% – Here’s Why

Shares of BlueLinx Holdings Inc. (NYSE:BXC) fell 9.4% on Monday . The stock traded as low as $66.20 and last traded at $65.9350. 30,538 shares changed hands during trading, a decline of 65% from the average session volume of 87,368 shares. The stock had previously closed at $72.74.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. DA Davidson set a $68.00 price objective on shares of BlueLinx in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BlueLinx presently has a consensus rating of “Hold” and a consensus target price of $88.67.

BlueLinx Trading Down 8.3%

The firm’s fifty day moving average price is $70.00 and its 200-day moving average price is $70.55. The company has a market cap of $524.98 million, a price-to-earnings ratio of 39.24 and a beta of 1.62. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.60 and a quick ratio of 3.15.

Institutional Investors Weigh In On BlueLinx

Several large investors have recently made changes to their positions in the company. Mutual Advisors LLC grew its position in BlueLinx by 87.3% in the 3rd quarter. Mutual Advisors LLC now owns 16,280 shares of the construction company’s stock valued at $1,167,000 after buying an additional 7,589 shares in the last quarter. Catawba River Capital bought a new stake in shares of BlueLinx during the 3rd quarter worth about $7,431,000. Third Avenue Management LLC lifted its stake in shares of BlueLinx by 55.2% in the 2nd quarter. Third Avenue Management LLC now owns 46,357 shares of the construction company’s stock worth $3,448,000 after acquiring an additional 16,488 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of BlueLinx by 150.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 26,445 shares of the construction company’s stock worth $1,933,000 after acquiring an additional 15,887 shares during the period. Finally, Towle & Co. boosted its holdings in shares of BlueLinx by 41.3% in the third quarter. Towle & Co. now owns 78,186 shares of the construction company’s stock valued at $5,714,000 after acquiring an additional 22,855 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.