BlueLinx (NYSE:BXC) Hits New 52-Week High – What’s Next?

Shares of BlueLinx Holdings Inc. (NYSE:BXC) reached a new 52-week high on Monday . The company traded as high as $133.94 and last traded at $133.87, with a volume of 7722 shares traded. The stock had previously closed at $127.53.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BXC shares. DA Davidson raised their price target on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum raised their price objective on BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com raised BlueLinx from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $135.67.

BlueLinx Stock Up 4.0 %

The firm’s 50-day simple moving average is $111.11 and its two-hundred day simple moving average is $104.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.58 and a quick ratio of 3.26. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 37.07 and a beta of 1.94.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXC. SkyView Investment Advisors LLC increased its stake in shares of BlueLinx by 2.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company’s stock worth $959,000 after purchasing an additional 190 shares in the last quarter. Meros Investment Management LP boosted its stake in shares of BlueLinx by 54.5% during the 3rd quarter. Meros Investment Management LP now owns 60,799 shares of the construction company’s stock worth $6,409,000 after purchasing an additional 21,455 shares during the last quarter. Vestcor Inc raised its position in shares of BlueLinx by 1,797.6% in the third quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock valued at $1,340,000 after buying an additional 12,044 shares during the last quarter. Barclays PLC lifted its stake in shares of BlueLinx by 32.0% during the third quarter. Barclays PLC now owns 45,229 shares of the construction company’s stock valued at $4,767,000 after buying an additional 10,966 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.