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

by · The Cerbat Gem

BlueLinx Holdings Inc. (NYSE:BXC – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 261,400 shares, an increase of 34.4% from the March 15th total of 194,500 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average trading volume of 85,000 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Trading of BlueLinx

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of BlueLinx by 10.5% during the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock valued at $163,000 after purchasing an additional 147 shares during the last quarter. State Street Corp grew its stake in BlueLinx by 0.6% during the 3rd quarter. State Street Corp now owns 198,003 shares of the construction company’s stock worth $20,873,000 after buying an additional 1,252 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after buying an additional 140 shares during the period. Barclays PLC lifted its stake in BlueLinx by 32.0% in the third quarter. Barclays PLC now owns 45,229 shares of the construction company’s stock valued at $4,767,000 after buying an additional 10,966 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of BlueLinx by 2.1% during the third quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company’s stock valued at $959,000 after acquiring an additional 190 shares during the period. 90.83% of the stock is owned by institutional investors.

BlueLinx Trading Up 2.3 %

BlueLinx stock traded up $1.62 during trading on Friday, reaching $71.70. The company had a trading volume of 96,788 shares, compared to its average volume of 80,111. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The firm has a market capitalization of $586.58 million, a price-to-earnings ratio of 11.68 and a beta of 1.82. The stock’s 50 day moving average price is $79.88 and its two-hundred day moving average price is $100.68. BlueLinx has a 12-month low of $67.42 and a 12-month high of $134.79.

BlueLinx (NYSE:BXC – Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BXC. Benchmark cut their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital dropped their price target on BlueLinx from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, DA Davidson reduced their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.25.

View Our Latest Stock Report on BlueLinx

BlueLinx Company Profile

(Get Free Report)

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.

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