BlueLinx (NYSE:BXC) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of BlueLinx (NYSE:BXC) from a sell rating to a hold rating in a research note released on Thursday morning, ValuEngine reports.

Separately, TheStreet downgraded shares of BlueLinx from a c rating to a d+ rating in a report on Monday, April 8th.

Shares of BXC traded up $0.87 during midday trading on Thursday, hitting $22.10. 223,283 shares of the stock traded hands, compared to its average volume of 86,019. BlueLinx has a 1-year low of $17.88 and a 1-year high of $43.89. The company’s 50 day simple moving average is $19.96.

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

In related news, major shareholder Nokomis Capital, L.L.C. acquired 73,476 shares of BlueLinx stock in a transaction that occurred on Friday, July 5th. The stock was acquired at an average price of $18.17 per share, with a total value of $1,335,058.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.07% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of BlueLinx during the 2nd quarter valued at $25,000. Equitec Specialists LLC raised its holdings in shares of BlueLinx by 10.0% during the 2nd quarter. Equitec Specialists LLC now owns 122,781 shares of the construction company’s stock worth $2,432,000 after buying an additional 11,128 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of BlueLinx by 28.7% during the 2nd quarter. WINTON GROUP Ltd now owns 12,974 shares of the construction company’s stock worth $257,000 after buying an additional 2,894 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in shares of BlueLinx by 150.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 348,555 shares of the construction company’s stock worth $9,286,000 after buying an additional 209,555 shares in the last quarter. Finally, Vivaldi Asset Management LLC raised its holdings in shares of BlueLinx by 11.0% during the 1st quarter. Vivaldi Asset Management LLC now owns 378,842 shares of the construction company’s stock worth $10,092,000 after buying an additional 37,569 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

BlueLinx Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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