BlueLinx (NYSE:BXC) Releases Quarterly Earnings Results, Beats Estimates By $0.85 EPS

BlueLinx (NYSE:BXC) announced its quarterly earnings data on Tuesday. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.85, FiscalAI reports. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%. The firm had revenue of $814.08 million during the quarter, compared to analyst estimates of $793.72 million.

BlueLinx Trading Up 6.1%

Shares of NYSE:BXC traded up $3.69 during mid-day trading on Tuesday, reaching $64.20. 188,017 shares of the company were exchanged, compared to its average volume of 123,105. BlueLinx has a 1 year low of $44.78 and a 1 year high of $87.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.90 and a quick ratio of 2.51. The firm’s 50-day simple moving average is $55.86 and its 200 day simple moving average is $58.99. The firm has a market cap of $499.49 million, a price-to-earnings ratio of -123.47 and a beta of 1.45.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BXC. Gendell Jeffrey L grew its stake in shares of BlueLinx by 9.0% in the fourth 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. raised its holdings in shares of BlueLinx by 16.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock valued at $18,723,000 after buying an additional 42,904 shares during the period. Geode Capital Management LLC lifted its stake in BlueLinx by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 185,659 shares of the construction company’s stock worth $11,406,000 after acquiring an additional 871 shares in the last quarter. Towle & Co. boosted its holdings in BlueLinx by 113.8% during 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 period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in BlueLinx by 7.8% during 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 period. 90.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BXC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a report on Wednesday, May 20th. DA Davidson reiterated a “neutral” rating and issued a $65.00 price objective on shares of BlueLinx in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.00.

About BlueLinx

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.