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Bluelinx Stock Gets A Composite Rating Upgrade To 96

The IBD SmartSelect Composite Rating for Bluelinx (BXC) increased from 94 to 96 Thursday. The building materials retailer stock sports a 99 Relative Strength Rating.




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The new score means the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

Is Bluelinx Stock A Buy?

Bluelinx stock is currently extended beyond a proper buy zone after clearing the 46.85 buy point in a consolidation. Note that it is a thinly traded stock, with average daily dollar volume under $8 million. Wait for another buying opportunity. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

 


Looking For Winning Stocks? This 3-Step Routine


 

Bluelinx has benefitted from the strong trend in construction in the residential and home renovation. The company reported 8,150% earnings growth for Q1. Revenue growth climbed 55%, up from 41% in the prior report. The company has now posted accelerating growth in each of the last three quarters.

One weak spot is the company’s 69 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.

Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.

Bluelinx stock holds the No. 1 rank among its peers in the Retail/Wholesale-Building Products industry group. Tractor Supply (TSCO) and Floor & Decor (FND) are also among the group’s highest-rated stocks.

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