BlueLinx Holdings Inc. (NYSE:BXC) Short Interest Up 5.3% in October

BlueLinx Holdings Inc. (NYSE:BXC) was the target of a large growth in short interest in 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. Based on an average daily volume of 79,300 shares, the short-interest ratio is currently 2.6 days. Currently, 2.5% of the company’s stock are sold short.

Institutional Investors Weigh In On BlueLinx

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

Analyst Ratings Changes

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

BlueLinx Stock Performance

BXC stock traded up $1.98 during trading hours on Friday, reaching $111.44. The stock had a trading volume of 12,089 shares, compared to its average volume of 81,883. BlueLinx has a fifty-two week low of $74.50 and a fifty-two week high of $132.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.58 and a quick ratio of 3.37. The stock has a market capitalization of $933.87 million, a PE ratio of 31.82 and a beta of 1.94. The stock has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $102.91.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter. The company had revenue of $768.36 million during the quarter. BlueLinx had a return on equity of 10.44% and a net margin of 1.01%.

About BlueLinx

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.