BlueLinx (NYSE:BXC) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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

BlueLinx Stock Down 7.8%

Shares of BXC traded down $6.11 during trading hours on Tuesday, hitting $72.64. 331,728 shares of the company were exchanged, compared to its average volume of 138,152. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. The company has a market cap of $570.91 million, a PE ratio of -290.53 and a beta of 1.43. The firm’s 50 day moving average is $76.14 and its 200-day moving average is $65.02. BlueLinx has a 52 week low of $44.78 and a 52 week high of $93.80.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating on the stock. Wall Street Zen raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. DA Davidson increased their price target on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Benchmark raised their price target on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.