BlueLinx Holdings Inc. to Post Q1 2024 Earnings of $2.77 Per Share, Seaport Res Ptn Forecasts (NYSE:BXC)

BlueLinx Holdings Inc. (NYSE:BXC – Get Rating) – Investment analysts at Seaport Res Ptn issued their Q1 2024 earnings estimates for shares of BlueLinx in a note issued to investors on Monday, February 27th. Seaport Res Ptn analyst W. Liptak forecasts that the construction company will earn $2.77 per share for the quarter. The consensus estimate for BlueLinx’s current full-year earnings is $15.62 per share. Seaport Res Ptn also issued estimates for BlueLinx’s Q2 2024 earnings at $4.27 EPS, Q3 2024 earnings at $4.88 EPS, Q4 2024 earnings at $3.75 EPS and FY2024 earnings at $15.66 EPS.

Several other research analysts also recently commented on BXC. Benchmark raised their price objective on shares of BlueLinx from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd.

BlueLinx Trading Up 1.3 %

NYSE:BXC opened at $84.39 on Tuesday. BlueLinx has a 52 week low of $57.49 and a 52 week high of $100.01. The firm has a 50-day moving average price of $81.35 and a two-hundred day moving average price of $72.96. The firm has a market cap of $764.57 million, a price-to-earnings ratio of 2.76 and a beta of 1.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.81 and a current ratio of 5.11.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently modified their holdings of BXC. Steward Partners Investment Advisory LLC raised its stake in shares of BlueLinx by 45.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 639 shares of the construction company’s stock valued at $43,000 after acquiring an additional 201 shares during the period. Covestor Ltd bought a new stake in shares of BlueLinx in the 1st quarter valued at about $50,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in BlueLinx in the 3rd quarter worth approximately $73,000. JBF Capital Inc. purchased a new position in BlueLinx during the 2nd quarter worth approximately $134,000. Finally, Meeder Asset Management Inc. raised its position in BlueLinx by 69.1% during the 4th quarter. Meeder Asset Management Inc. now owns 2,209 shares of the construction company’s stock worth $157,000 after buying an additional 903 shares during the last quarter. Institutional investors own 84.90% of the company’s stock.

About BlueLinx

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BlueLinx Holdings, Inc engages in the distribution of building and industrial products. Its products include structural and specialty. The Structural products consist of plywood, oriented strand board, rebar and remesh, lumber, spruce and other wood used for structural support, walls, and flooring in construction projects.