BMC Stock (BMCH) Trading Up 7% on Better-Than-Expected Earnings

BMC Stock Holdings Inc (NASDAQ:BMCH) was up 7% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $18.30 and last traded at $17.91. Approximately 1,544,755 shares changed hands during mid-day trading, an increase of 229% from the average daily volume of 468,938 shares. The stock had previously closed at $16.74.

The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.09. The firm had revenue of $990.00 million during the quarter, compared to analysts’ expectations of $957.79 million. BMC Stock had a net margin of 2.58% and a return on equity of 13.32%. BMC Stock’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS.

A number of analysts recently weighed in on BMCH shares. Zacks Investment Research upgraded shares of BMC Stock from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, July 9th. BidaskClub upgraded shares of BMC Stock from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. B. Riley increased their price target on shares of BMC Stock from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. ValuEngine cut shares of BMC Stock from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Finally, Stephens set a $26.00 price target on shares of BMC Stock and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.38.

In other news, Director Carl R. Vertuca, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $23.00, for a total value of $230,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in BMCH. Millennium Management LLC lifted its stake in shares of BMC Stock by 441.1% in the 1st quarter. Millennium Management LLC now owns 164,026 shares of the company’s stock worth $3,207,000 after acquiring an additional 133,715 shares during the period. Legal & General Group Plc lifted its stake in shares of BMC Stock by 55.1% in the 1st quarter. Legal & General Group Plc now owns 25,647 shares of the company’s stock worth $502,000 after acquiring an additional 9,108 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of BMC Stock in the 1st quarter worth $230,000. Penn Capital Management Co. Inc. lifted its stake in shares of BMC Stock by 37.0% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 183,507 shares of the company’s stock worth $3,826,000 after acquiring an additional 49,589 shares during the period. Finally, First Mercantile Trust Co. lifted its stake in shares of BMC Stock by 27.1% in the 2nd quarter. First Mercantile Trust Co. now owns 21,451 shares of the company’s stock worth $448,000 after acquiring an additional 4,570 shares during the period.

The company has a market capitalization of $1.13 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.12 and a beta of 1.47. The company has a current ratio of 2.17, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44.

About BMC Stock (NASDAQ:BMCH)

BMC Stock Holdings, Inc operates as lumber and building materials distributor and solutions provider in the United States. Its primary products include structural components, such as floor trusses, roof trusses, wall panels, and engineered wood products; lumber and lumber sheet goods, including dimensional lumber, plywood, and oriented strand board products used in on-site house framing under the Ready-Frame brand; and millwork, doors, and windows comprising interior and exterior doors, windows, interior trim, custom millwork, moldings, stairs and stair parts, and cabinetry and other products.

Further Reading: Return on Investment (ROI) Defined, Explained

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