BlueLinx Holdings Inc. (NYSE:BXC) Short Interest Update

BlueLinx Holdings Inc. (NYSE:BXC) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 204,300 shares, a growth of 5.3% from the September 30th total of 194,000 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 79,300 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of BlueLinx

Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC raised its holdings in shares of 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 buying an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new position in BlueLinx in the 2nd quarter valued at about $39,000. Allspring Global Investments Holdings LLC lifted its stake in shares of BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after buying an additional 425 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of BlueLinx during the 2nd quarter worth about $70,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of BlueLinx during the 1st quarter valued at $218,000. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Trading Down 1.9 %

NYSE BXC traded down $2.20 during trading hours on Thursday, reaching $110.68. The company had a trading volume of 7,898 shares, compared to its average volume of 81,730. 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 stock has a market capitalization of $943.66 million, a P/E ratio of 26.37 and a beta of 1.94. The stock has a 50-day moving average of $103.51 and a 200 day moving average of $102.86. BlueLinx has a 1-year low of $70.07 and a 1-year high of $132.67.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BXC. Craig Hallum raised their price target on shares of BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, DA Davidson lifted their price objective on shares of BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $135.67.

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.