BlueLinx (NYSE:BXC) Releases Earnings Results

BlueLinx (NYSE:BXC) posted its quarterly earnings results on Tuesday. The construction company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08, FiscalAI reports. The company had revenue of $812.61 million during the quarter, compared to analysts’ expectations of $814.17 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.

BlueLinx Price Performance

BXC stock traded up $4.62 during mid-day trading on Wednesday, reaching $77.18. 78,763 shares of the company traded hands, compared to its average volume of 137,886. The company has a fifty day moving average price of $76.14 and a 200-day moving average price of $65.02. The company has a market capitalization of $606.63 million, a P/E ratio of -307.94 and a beta of 1.47. BlueLinx has a 52-week low of $44.78 and a 52-week high of $93.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.59.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BXC. Citigroup initiated coverage on BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating for the company. Citizens Jmp began coverage on BlueLinx in a research note on Thursday, September 24th. They set a “market perform” rating on the stock. Zacks Research assumed coverage on shares of BlueLinx in a research report on Monday. They set a “hold” rating for the company. Benchmark raised their price objective on BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.50.

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.