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

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

Institutional Investors Weigh In On BlueLinx

A number of institutional investors and hedge funds have recently made changes to their positions in BXC. The Manufacturers Life Insurance Company lifted its stake in BlueLinx by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 4,380 shares of the construction company’s stock worth $408,000 after purchasing an additional 129 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in 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 in the last quarter. FMR LLC lifted its stake in BlueLinx by 10.5% during the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after purchasing an additional 147 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of BlueLinx by 2.0% in the second 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 in the last quarter. Finally, nVerses Capital LLC raised its stake in shares of BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Stock Down 0.8 %

Shares of BXC opened at $120.39 on Monday. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.01 billion, a P/E ratio of 35.00 and a beta of 1.94. The company’s 50-day moving average price is $108.33 and its 200 day moving average price is $103.49. BlueLinx has a 12-month low of $84.43 and a 12-month high of $132.67.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BXC shares. Craig Hallum lifted their target price on shares of BlueLinx from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson lifted 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, StockNews.com upgraded BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $135.67.

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.