BlueLinx Holdings Inc. (NYSE:BXC) Sees Significant Drop in Short Interest

BlueLinx Holdings Inc. (NYSE:BXC) was the target of a large decrease in short interest in 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 trading volume of 67,600 shares, the short-interest ratio is presently 2.8 days. Approximately 2.4% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms recently weighed in on BXC. StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. DA Davidson upped their price target on BlueLinx from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, 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. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, BlueLinx has an average rating of “Buy” and an average price target of $135.67.

BlueLinx Price Performance

Shares of NYSE:BXC opened at $122.97 on Tuesday. The business’s fifty day moving average price is $108.97 and its two-hundred day moving average price is $103.63. The stock has a market cap of $1.03 billion, a PE ratio of 35.75 and a beta of 1.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.26 and a current ratio of 4.58. BlueLinx has a one year low of $85.98 and a one year high of $132.67.

Institutional Investors Weigh In On BlueLinx

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC boosted its holdings in shares of BlueLinx by 200.0% during the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of BlueLinx during the second quarter worth $39,000. Public Employees Retirement System of Ohio boosted its holdings in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after purchasing an additional 140 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of BlueLinx during the second quarter worth $70,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.