BlueLinx (NYSE:BXC) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

BlueLinx Holdings Inc. (NYSE:BXC)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $108.23 and traded as high as $111.37. BlueLinx shares last traded at $110.35, with a volume of 60,447 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BlueLinx currently has a consensus rating of “Buy” and a consensus target price of $135.67.

BlueLinx Stock Up 3.4 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.26 and a current ratio of 4.58. The company has a market cap of $924.69 million, a P/E ratio of 32.08 and a beta of 2.06. The business’s fifty day moving average is $114.25 and its two-hundred day moving average is $108.23.

Institutional Trading of BlueLinx

A number of large investors have recently modified their holdings of the company. Vestcor Inc increased its holdings in BlueLinx by 1,797.6% during the 3rd quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock worth $1,340,000 after purchasing an additional 12,044 shares during the period. Victory Capital Management Inc. grew its position in shares of BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after buying an additional 187,456 shares in the last quarter. State Street Corp increased its stake in shares of BlueLinx by 0.6% during the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock valued at $20,873,000 after buying an additional 1,252 shares during the period. JPMorgan Chase & Co. increased its stake in shares of BlueLinx by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock valued at $9,714,000 after buying an additional 4,363 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of BlueLinx by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock valued at $17,624,000 after acquiring an additional 36,968 shares in the last quarter. Hedge funds and other institutional investors 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.