BlueLinx (NYSE:BXC) Issues Quarterly Earnings Results

BlueLinx (NYSE:BXC) issued its quarterly earnings data on Tuesday. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.93, FiscalAI reports. The business had revenue of $731.15 million for the quarter, compared to the consensus estimate of $714.84 million. BlueLinx had a negative return on equity of 0.23% and a net margin of 0.01%.

BlueLinx Trading Down 5.1%

Shares of NYSE BXC traded down $2.49 during midday trading on Tuesday, hitting $46.17. The company’s stock had a trading volume of 279,994 shares, compared to its average volume of 102,475. The company has a current ratio of 4.66, a quick ratio of 3.12 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $56.32 and its two-hundred day moving average is $63.12. BlueLinx has a 12-month low of $44.78 and a 12-month high of $88.30. The firm has a market cap of $363.23 million, a P/E ratio of -4,617,100.00 and a beta of 1.48.

Hedge Funds Weigh In On BlueLinx

Several hedge funds have recently bought and sold shares of BXC. Summit Securities Group LLC purchased a new stake in BlueLinx in the fourth quarter worth $31,000. Tower Research Capital LLC TRC boosted its stake in shares of BlueLinx by 114.1% during the second quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock valued at $59,000 after purchasing an additional 422 shares during the period. State of Wyoming grew its holdings in shares of BlueLinx by 19.5% in the fourth quarter. State of Wyoming now owns 1,456 shares of the construction company’s stock worth $89,000 after purchasing an additional 238 shares during the last quarter. Comerica Bank increased its stake in BlueLinx by 5,468.2% in the 3rd quarter. Comerica Bank now owns 1,225 shares of the construction company’s stock worth $90,000 after buying an additional 1,203 shares during the period. Finally, Inceptionr LLC purchased a new position in BlueLinx in the 3rd quarter worth about $230,000. Institutional investors own 90.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BXC shares. Wall Street Zen raised BlueLinx from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Benchmark dropped their price objective on shares of BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, February 27th. One investment 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. According to MarketBeat, BlueLinx presently has an average rating of “Hold” and an average price target of $71.50.

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.