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

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 204,300 shares, an increase of 5.3% from the September 30th total of 194,000 shares. Currently, 2.5% of the shares of the company are short sold. Based on an average trading volume of 79,300 shares, the days-to-cover ratio is currently 2.6 days.

BlueLinx Price Performance

BXC traded down $3.42 during trading on Thursday, reaching $109.46. 110,058 shares of the company were exchanged, compared to its average volume of 82,214. BlueLinx has a 12-month low of $70.07 and a 12-month high of $132.67. The company's 50-day moving average is $103.51 and its two-hundred day moving average is $102.86. The company has a quick ratio of 3.37, a current ratio of 4.88 and a debt-to-equity ratio of 0.88. The company has a market cap of $933.26 million, a price-to-earnings ratio of 25.57 and a beta of 1.94.

BlueLinx (NYSE:BXC - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 EPS for the quarter. The company had revenue of $768.36 million during the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BXC. Harbor Capital Advisors Inc. boosted its position in shares of BlueLinx by 151.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company's stock valued at $14,463,000 after acquiring an additional 82,657 shares during the last quarter. Koss Olinger Consulting LLC raised its stake in BlueLinx by 5.5% in the third quarter. Koss Olinger Consulting LLC now owns 4,967 shares of the construction company's stock valued at $524,000 after purchasing an additional 260 shares in the last quarter. nVerses Capital LLC lifted its position in BlueLinx by 100.0% during the third quarter. nVerses Capital LLC now owns 600 shares of the construction company's stock valued at $63,000 after purchasing an additional 300 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in BlueLinx by 108.5% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 14,799 shares of the construction company's stock worth $1,560,000 after buying an additional 7,701 shares in the last quarter. Finally, LongView Wealth Management increased its holdings in shares of BlueLinx by 31.9% in the 3rd quarter. LongView Wealth Management now owns 6,453 shares of the construction company's stock worth $680,000 after buying an additional 1,561 shares during the last quarter. 90.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BXC has been the subject of several research reports. Craig Hallum increased their price objective on BlueLinx from $125.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, August 1st. DA Davidson boosted their price objective on BlueLinx from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, StockNews.com upgraded shares of BlueLinx from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlueLinx currently has an average 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.