BlueLinx (NYSE:BXC – Get Free Report) announced its quarterly earnings results on Tuesday. The construction company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.30 by $0.85, FiscalAI reports. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The firm had revenue of $814.08 million during the quarter, compared to the consensus estimate of $793.72 million.
BlueLinx Stock Up 13.3%
Shares of BlueLinx stock traded up $9.66 during trading on Thursday, hitting $82.20. The company’s stock had a trading volume of 107,320 shares, compared to its average volume of 123,907. BlueLinx has a 52 week low of $44.78 and a 52 week high of $87.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.51 and a current ratio of 3.90. The company has a fifty day simple moving average of $56.53 and a two-hundred day simple moving average of $58.86. The company has a market capitalization of $639.69 million, a PE ratio of -328.35 and a beta of 1.44.
Wall Street Analyst Weigh In
BXC has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating on shares of BlueLinx in a report on Thursday. Wall Street Zen raised shares of BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, May 20th. Finally, DA Davidson reiterated a “neutral” rating and issued a $65.00 price objective on shares of BlueLinx in a report on Wednesday, July 15th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.00.
Hedge Funds Weigh In On BlueLinx
A number of institutional investors and hedge funds have recently made changes to their positions in BXC. Towle & Co. raised its position in shares of BlueLinx by 113.8% in the 4th 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 last quarter. Gendell Jeffrey L boosted its stake 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 purchasing an additional 59,657 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of BlueLinx during the fourth quarter valued at $3,275,000. Charles Schwab Investment Management Inc. lifted its stake in BlueLinx by 16.4% during 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 acquiring an additional 42,904 shares during the period. Finally, Atom Investors LP purchased a new stake in BlueLinx in the fourth quarter worth approximately $2,469,000. Institutional investors 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.
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