Short Interest in BlueLinx Holdings Inc. (NYSE:BXC) Expands By 5.3%

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

Wall Street Analysts Forecast Growth

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

BlueLinx Trading Down 1.9 %

Shares of BXC stock traded down $2.20 on Thursday, reaching $110.68. The company had a trading volume of 7,898 shares, compared to its average volume of 81,730. BlueLinx has a 12 month low of $70.07 and a 12 month high of $132.67. 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 cap of $943.66 million, a PE ratio of 26.37 and a beta of 1.94. The company has a 50-day moving average of $103.51 and a 200-day moving average of $102.86.

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

Institutional Trading of BlueLinx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in BlueLinx by 305.8% in the 1st 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 last quarter. Capstone Investment Advisors LLC bought a new stake in BlueLinx in the 1st quarter valued at $218,000. GSA Capital Partners LLP acquired a new position in BlueLinx in the 1st quarter valued at $1,501,000. Empowered Funds LLC grew its holdings in BlueLinx by 70.9% in the 1st quarter. Empowered Funds LLC now owns 62,627 shares of the construction company’s stock valued at $8,157,000 after buying an additional 25,972 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in BlueLinx during the 1st quarter worth $1,076,000. Institutional investors and hedge funds 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.