BlueLinx Holdings Inc. (NYSE:BXC) Short Interest Down 6.5% in September

BlueLinx Holdings Inc. (NYSE:BXC) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 194,000 shares, a decline of 6.5% from the September 15th total of 207,400 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 92,600 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BlueLinx

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC grew its holdings in BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Innealta Capital LLC acquired a new stake in BlueLinx in the 2nd quarter valued at $39,000. Meeder Asset Management Inc. purchased a new stake in BlueLinx in the 2nd quarter worth $70,000. Allspring Global Investments Holdings LLC raised its position in BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after acquiring an additional 425 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BlueLinx by 24.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company’s stock valued at $195,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

BlueLinx stock traded up $3.84 during mid-day trading on Wednesday, hitting $112.80. The company had a trading volume of 37,451 shares, compared to its average volume of 82,924. The company has a current ratio of 4.88, a quick ratio of 3.37 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $977.07 million, a price-to-earnings ratio of 21.16 and a beta of 1.94. The company’s fifty day moving average is $101.58 and its 200-day moving average is $104.21. BlueLinx has a 12-month low of $67.76 and a 12-month high of $132.67.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter. The firm had revenue of $768.36 million for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%.

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.