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

Key Points

• BlueLinx beat quarterly earnings expectations: The company reported EPS of $1.15, $0.85 above estimates, while revenue reached $814.08 million versus the $793.72 million consensus.
• Shares rose to $64.20 in mid-day trading, although the company posted a negative net margin of 0.14% and negative return on equity of 0.30%. Institutional investors own 90.83% of the stock.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating. BlueLinx has an overall “Hold” consensus and an average price target of $70.00.

BlueLinx (NYSE:BXC - Get Free Report) released its quarterly earnings results 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. The firm had revenue of $814.08 million for the quarter, compared to analysts' expectations of $793.72 million. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%.

BlueLinx Price Performance

NYSE BXC traded up $3.69 during mid-day trading on Tuesday, hitting $64.20. The stock had a trading volume of 188,017 shares, compared to its average volume of 123,105. The firm's 50 day moving average is $55.86 and its 200 day moving average is $58.99. 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 stock has a market capitalization of $499.49 million, a price-to-earnings ratio of -123.47 and a beta of 1.45. BlueLinx has a twelve month low of $44.78 and a twelve month high of $87.88.

Institutional Investors Weigh In On BlueLinx

A number of hedge funds have recently modified their holdings of the business. Gendell Jeffrey L raised its holdings in BlueLinx by 9.0% in the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company's stock valued at $44,168,000 after acquiring an additional 59,657 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of BlueLinx by 16.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company's stock worth $18,723,000 after purchasing an additional 42,904 shares during the last quarter. Geode Capital Management LLC grew its position in shares of BlueLinx by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 185,659 shares of the construction company's stock valued at $11,406,000 after purchasing an additional 871 shares in the last quarter. Towle & Co. grew its position in shares of BlueLinx by 113.8% in the fourth quarter. Towle & Co. now owns 167,196 shares of the construction company's stock valued at $10,271,000 after purchasing an additional 89,010 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of BlueLinx by 7.8% in the fourth 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. 90.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

• Blackstone NYSE: BX Stock a Buy After an Impressive Q3

BXC has been the topic of several recent analyst reports. Wall Street Zen raised shares of BlueLinx from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Weiss Ratings reissued a "sell (d)" rating on shares of BlueLinx in a research note on Wednesday, May 20th. Finally, DA Davidson restated a "neutral" rating and set a $65.00 price target on shares of BlueLinx in a research report on Wednesday, July 15th. One equities research 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's stock. Based on data from MarketBeat.com, BlueLinx currently has an average rating of "Hold" and a consensus price target of $70.00.

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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