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

BlueLinx Holdings Inc. (NYSE:BXC) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 387,200 shares, a growth of 30.5% from the July 15th total of 296,700 shares. Based on an average daily volume of 101,300 shares, the short-interest ratio is currently 3.8 days. Currently, 4.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BXC. Dimensional Fund Advisors LP boosted its position in shares of BlueLinx by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 554,458 shares of the construction company’s stock worth $62,828,000 after buying an additional 17,891 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in BlueLinx during the first quarter valued at about $4,195,000. GSA Capital Partners LLP purchased a new stake in shares of BlueLinx during the 1st quarter worth about $1,501,000. SG Americas Securities LLC acquired a new stake in shares of BlueLinx in the first quarter worth $1,076,000. Finally, Empowered Funds LLC raised its position in BlueLinx by 70.9% in the first quarter. Empowered Funds LLC now owns 62,627 shares of the construction company’s stock valued at $8,157,000 after purchasing an additional 25,972 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

NYSE:BXC traded down $2.01 during mid-day trading on Friday, reaching $95.00. The stock had a trading volume of 56,166 shares, compared to its average volume of 87,423. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 4.88. The business has a 50 day simple moving average of $101.02 and a 200 day simple moving average of $109.82. BlueLinx has a twelve month low of $67.76 and a twelve month high of $132.67. The firm has a market capitalization of $822.89 million, a price-to-earnings ratio of 17.82 and a beta of 1.90.

Wall Street Analyst Weigh In

BXC has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of BlueLinx in a report on Wednesday, May 29th. DA Davidson upped their target price on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Craig Hallum boosted their price objective on BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, BlueLinx presently has an average rating of “Moderate Buy” and a consensus target price 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.