BlueLinx (NYSE:BXC) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

BlueLinx (NYSE:BXC) announced its quarterly earnings data on Tuesday. The construction company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05), FiscalAI reports. BlueLinx had a return on equity of 1.41% and a net margin of 0.48%.The company had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $703.84 million.

BlueLinx Stock Up 3.9%

Shares of BXC traded up $2.62 during mid-day trading on Tuesday, hitting $69.73. 166,612 shares of the company’s stock were exchanged, compared to its average volume of 92,534. The stock’s 50-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. BlueLinx has a fifty-two week low of $52.71 and a fifty-two week high of $88.30. The company has a market cap of $548.78 million, a price-to-earnings ratio of 41.02 and a beta of 1.62.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BXC. Invesco Ltd. lifted its stake in BlueLinx by 15.3% in the fourth quarter. Invesco Ltd. now owns 25,724 shares of the construction company’s stock valued at $1,580,000 after buying an additional 3,415 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of BlueLinx by 41.6% in the 4th quarter. Empowered Funds LLC now owns 77,075 shares of the construction company’s stock valued at $4,735,000 after acquiring an additional 22,633 shares during the period. Vines Capital Management LLC purchased a new stake in BlueLinx in the 4th quarter valued at $464,000. Summit Securities Group LLC acquired a new stake in BlueLinx during the 4th quarter worth $31,000. Finally, Numerai GP LLC purchased a new position in BlueLinx during the 4th quarter worth $311,000. Hedge funds and other 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.