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Can BlueLinx (BXC) Run Higher on Strong Earnings Estimate Revisions?

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BlueLinx Holdings Inc. (BXC - Free Report) is a leading distributor of building and industrial products in the United States that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BXC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that BlueLinx could be a solid choice for investors.

Current Quarter Estimates for BXC

In the past 30 days, one estimates have gone higher for BlueLinx while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 50 cents a share 30 days ago, to 89 cents today, a move of 78%.

Current Year Estimates for BXC

Meanwhile, BlueLinx’s current year figures are also looking quite promising, with one estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 70 cents per share 30 days ago to $1.20 per share today, an increase of 71.4%.

Bottom Line

The stock has also started to move higher lately, adding 14.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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