BlueLinx (NYSE:BXC) Releases Earnings Results, Beats Expectations By $0.93 EPS

BlueLinx (NYSE:BXC) released its quarterly earnings data on Tuesday. The construction company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.93, FiscalAI reports. BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%. The business had revenue of $731.15 million for the quarter, compared to analyst estimates of $714.84 million.

BlueLinx Stock Down 5.1%

Shares of BXC traded down $2.49 on Tuesday, hitting $46.17. The company’s stock had a trading volume of 279,994 shares, compared to its average volume of 102,476. The firm’s fifty day moving average price is $56.32 and its 200-day moving average price is $63.12. BlueLinx has a fifty-two week low of $44.78 and a fifty-two week high of $88.30. The company has a quick ratio of 3.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $363.23 million, a price-to-earnings ratio of -4,617,100.00 and a beta of 1.48.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Benchmark cut their target price on shares of BlueLinx from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wall Street Zen upgraded shares of BlueLinx from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in shares of BlueLinx during the fourth quarter worth $31,000. Tower Research Capital LLC TRC lifted its position in BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock valued at $59,000 after acquiring an additional 422 shares in the last quarter. State of Wyoming boosted its stake in BlueLinx by 19.5% in the 4th quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock worth $89,000 after purchasing an additional 238 shares during the period. Comerica Bank boosted its stake in BlueLinx by 5,468.2% in the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after purchasing an additional 1,203 shares during the period. Finally, Inceptionr LLC bought a new position in BlueLinx during the 3rd quarter worth about $230,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.