BlueLinx (NYSE:BXC) Shares Cross Above 50 Day Moving Average of $21.39

BlueLinx Holdings Inc. (NYSE:BXC) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $21.39 and traded as high as $18.52. BlueLinx shares last traded at $18.40, with a volume of 738 shares trading hands.

A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of BlueLinx from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. TheStreet lowered shares of BlueLinx from a “c” rating to a “d+” rating in a research note on Monday, April 8th.

The company has a debt-to-equity ratio of 326.37, a quick ratio of 1.30 and a current ratio of 3.02. The company’s 50 day simple moving average is $21.17.

BlueLinx (NYSE:BXC) last issued its earnings results on Wednesday, May 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. The company had revenue of $638.70 million for the quarter. BlueLinx had a negative net margin of 1.35% and a negative return on equity of 606.34%.

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in BlueLinx by 398.4% in the first quarter. BNP Paribas Arbitrage SA now owns 1,859 shares of the construction company’s stock worth $50,000 after acquiring an additional 1,486 shares during the period. Rhumbline Advisers lifted its stake in BlueLinx by 45.9% in the fourth quarter. Rhumbline Advisers now owns 11,888 shares of the construction company’s stock worth $294,000 after acquiring an additional 3,741 shares during the period. Bank of America Corp DE lifted its stake in BlueLinx by 47.5% in the fourth quarter. Bank of America Corp DE now owns 12,242 shares of the construction company’s stock worth $303,000 after acquiring an additional 3,941 shares during the period. California Public Employees Retirement System lifted its stake in BlueLinx by 13.6% in the fourth quarter. California Public Employees Retirement System now owns 18,551 shares of the construction company’s stock worth $458,000 after acquiring an additional 2,225 shares during the period. Finally, Barclays PLC lifted its stake in BlueLinx by 217.3% in the fourth quarter. Barclays PLC now owns 20,329 shares of the construction company’s stock worth $502,000 after acquiring an additional 13,922 shares during the period. 82.81% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Company Profile (NYSE:BXC)

BlueLinx Holdings Inc, together with its subsidiaries, distributes building and industrial products in the United States. It distributes structural products, including plywood, oriented strand board, rebar and remesh, lumber, spruce, and other wood products primarily used for structural support, walls, and flooring in construction projects; and specialty products comprising engineered wood, moulding, siding, cedar, metal, and insulation products.

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