Short Interest in BlueLinx Holdings Inc. (NYSE:BXC) Decreases By 7.6%

BlueLinx Holdings Inc. (NYSE:BXC) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 188,800 shares, a decrease of 7.6% from the October 15th total of 204,300 shares. Based on an average daily trading volume, of 67,600 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.4% of the company’s stock are short sold.

BlueLinx Stock Performance

NYSE BXC opened at $120.39 on Monday. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88. BlueLinx has a 52-week low of $84.43 and a 52-week high of $132.67. The business’s 50-day moving average price is $108.33 and its 200 day moving average price is $103.49. The firm has a market cap of $1.01 billion, a P/E ratio of 35.00 and a beta of 1.94.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently made changes to their positions in BXC. Victory Capital Management Inc. lifted its position in BlueLinx by 600.3% in the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock valued at $23,054,000 after purchasing an additional 187,456 shares during the period. Harbor Capital Advisors Inc. lifted its position in BlueLinx by 151.6% in the third quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock valued at $14,463,000 after purchasing an additional 82,657 shares during the period. Meros Investment Management LP acquired a new stake in BlueLinx in the second quarter valued at about $3,663,000. Charles Schwab Investment Management Inc. lifted its position in BlueLinx by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock valued at $17,624,000 after purchasing an additional 36,968 shares during the period. Finally, American Century Companies Inc. lifted its position in BlueLinx by 12.4% in the second quarter. American Century Companies Inc. now owns 268,059 shares of the construction company’s stock valued at $24,954,000 after purchasing an additional 29,582 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Wall Street Analyst Weigh In

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