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

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BlueLinx

Several large investors have recently modified their holdings of BXC. The Manufacturers Life Insurance Company raised its position in BlueLinx by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,380 shares of the construction company’s stock valued at $408,000 after purchasing an additional 129 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of BlueLinx by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company’s stock valued at $731,000 after acquiring an additional 151 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of BlueLinx by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Koss Olinger Consulting LLC increased its holdings in shares of BlueLinx by 5.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 4,967 shares of the construction company’s stock valued at $524,000 after acquiring an additional 260 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of BlueLinx by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,722 shares of the construction company’s stock valued at $876,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Stock Up 0.4 %

Shares of BXC opened at $109.89 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.37 and a current ratio of 4.58. BlueLinx has a one year low of $74.50 and a one year high of $132.67. The stock has a market capitalization of $920.88 million, a price-to-earnings ratio of 31.94 and a beta of 1.94. The stock has a 50 day moving average price of $103.87 and a 200 day moving average price of $102.87.

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

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.