Short Interest in BlueLinx Holdings Inc. (NYSE:BXC) Declines By 6.5%

BlueLinx Holdings Inc. (NYSE:BXC) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 194,000 shares, a decrease of 6.5% from the September 15th total of 207,400 shares. Currently, 2.4% of the shares of the stock 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

Several analysts have recently commented on BXC shares. StockNews.com upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. DA Davidson increased their price target on shares of BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Craig Hallum increased 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. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $135.67.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds have recently made changes to their positions in BXC. The Manufacturers Life Insurance Company increased its stake in BlueLinx by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,380 shares of the construction company’s stock worth $408,000 after buying an additional 129 shares during the period. SummerHaven Investment Management LLC increased its stake in BlueLinx by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company’s stock worth $731,000 after buying an additional 151 shares during the period. nVerses Capital LLC increased its stake in 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 period. Price T Rowe Associates Inc. MD increased its stake in BlueLinx by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,722 shares of the construction company’s stock worth $876,000 after buying an additional 293 shares during the period. Finally, Innealta Capital LLC purchased a new stake in BlueLinx during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Trading Down 2.8 %

NYSE BXC traded down $3.17 during mid-day trading on Thursday, reaching $109.63. 20,137 shares of the stock were exchanged, compared to its average volume of 82,612. BlueLinx has a 1-year low of $67.76 and a 1-year high of $132.67. The business’s fifty day simple moving average is $101.58 and its 200 day simple moving average is $104.21. The stock has a market capitalization of $949.62 million, a PE ratio of 21.13 and a beta of 1.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.37 and a current ratio of 4.88.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.53 earnings per share for the quarter. The company 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%.

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.