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

by · The Markets Daily

BlueLinx (NYSE:BXC – Get Free Report) posted 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. BlueLinx had a net margin of 0.48% and a return on equity of 1.41%. The company had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $703.84 million.

BlueLinx Price Performance

BXC traded up $2.62 on Tuesday, hitting $69.73. 166,612 shares of the company were exchanged, compared to its average volume of 92,534. BlueLinx has a fifty-two week low of $52.71 and a fifty-two week high of $88.30. The firm has a market capitalization of $548.78 million, a P/E ratio of 41.02 and a beta of 1.62. The business’s fifty day moving average is $70.05 and its 200 day moving average is $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.

Institutional Trading of BlueLinx

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

Analyst Ratings Changes

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

Read Our Latest Stock Report on BlueLinx

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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