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

Shares of BlueLinx Holdings Inc. (NYSE:BXC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Analyst Ratings Changes

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

BlueLinx Trading Up 3.4 %

The firm has a market cap of $924.69 million, a P/E ratio of 32.08 and a beta of 2.06. The stock has a 50 day simple moving average of $114.25 and a 200-day simple moving average of $108.23. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vestcor Inc lifted its stake in shares of BlueLinx by 1,797.6% in the 3rd quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock valued at $1,340,000 after purchasing an additional 12,044 shares during the last quarter. Victory Capital Management Inc. lifted its position in BlueLinx by 600.3% in the third 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 during the last quarter. State Street Corp lifted its position in BlueLinx by 0.6% in the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock worth $20,873,000 after buying an additional 1,252 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in BlueLinx by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock worth $9,714,000 after buying an additional 4,363 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in BlueLinx by 28.4% during 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 during the last quarter. 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.