BlueLinx (NYSE:BXC) Releases Earnings Results, Misses Estimates By $0.05 EPS

by · The Cerbat Gem

BlueLinx (NYSE:BXC – Get Free Report) issued its quarterly earnings data on Tuesday. The construction company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.05), FiscalAI reports. The firm had revenue of $715.80 million during the quarter, compared to the consensus estimate of $703.84 million. BlueLinx had a return on equity of 1.41% and a net margin of 0.48%.

BlueLinx Price Performance

Shares of NYSE BXC traded up $2.62 during midday trading on Tuesday, reaching $69.73. The stock had a trading volume of 166,612 shares, compared to its average volume of 92,534. The company has a market capitalization of $548.78 million, a price-to-earnings ratio of 41.02 and a beta of 1.62. BlueLinx has a 12-month low of $52.71 and a 12-month high of $88.30. The stock has a 50-day moving average of $70.05 and a 200-day moving average of $70.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.15 and a current ratio of 4.60.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. DA Davidson set a $68.00 price objective on shares of BlueLinx in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.67.

Check Out Our Latest Stock Analysis on BXC

Institutional Trading of BlueLinx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gendell Jeffrey L grew its holdings in BlueLinx by 9.0% during the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company’s stock valued at $44,168,000 after buying an additional 59,657 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BlueLinx by 16.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock worth $18,723,000 after acquiring an additional 42,904 shares during the last quarter. Geode Capital Management LLC grew its stake in BlueLinx by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 185,659 shares of the construction company’s stock valued at $11,406,000 after acquiring an additional 871 shares in the last quarter. Towle & Co. increased its holdings in BlueLinx by 113.8% in the 4th quarter. Towle & Co. now owns 167,196 shares of the construction company’s stock valued at $10,271,000 after acquiring an additional 89,010 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in BlueLinx by 7.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 124,226 shares of the construction company’s stock valued at $7,631,000 after acquiring an additional 8,978 shares during the last quarter. Institutional investors own 90.83% of the company’s stock.

About BlueLinx

(Get Free Report)

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.

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