BMC Stock Holdings Inc (BMCH) Shares Gap Down Following Weak Earnings

BMC Stock Holdings Inc (NASDAQ:BMCH) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $20.20, but opened at $21.35. BMC Stock Holdings shares last traded at $20.90, with a volume of 615,245 shares changing hands.

The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.02. BMC Stock Holdings had a return on equity of 8.61% and a net margin of 0.46%. The company had revenue of $757.70 million for the quarter, compared to the consensus estimate of $738.23 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year.

A number of research firms have commented on BMCH. Seaport Global Securities began coverage on shares of BMC Stock Holdings in a research report on Thursday, March 16th. They set a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded shares of BMC Stock Holdings from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, May 11th. Royal Bank of Canada dropped their target price on shares of BMC Stock Holdings from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, May 9th. Barclays PLC set a $24.00 target price on shares of BMC Stock Holdings and gave the stock a “buy” rating in a report on Monday, May 8th. Finally, FBR & Co reiterated an “outperform” rating and issued a $26.00 target price (up from $21.00) on shares of BMC Stock Holdings in a report on Wednesday, March 8th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. BMC Stock Holdings presently has a consensus rating of “Buy” and an average target price of $24.10.

In other news, Director Jeffrey Gene Rea sold 60,000 shares of BMC Stock Holdings stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $23.43, for a total value of $1,405,800.00. Following the transaction, the director now directly owns 386,360 shares of the company’s stock, valued at $9,052,414.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Alan Farmer sold 2,000 shares of BMC Stock Holdings stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $21.38, for a total transaction of $42,760.00. Following the completion of the transaction, the insider now directly owns 14,008 shares in the company, valued at $299,491.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,113,744 shares of company stock worth $66,386,643. 5.15% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC bought a new position in shares of BMC Stock Holdings during the fourth quarter worth approximately $67,663,000. State Street Corp increased its position in shares of BMC Stock Holdings by 4.1% in the fourth quarter. State Street Corp now owns 926,990 shares of the company’s stock worth $18,077,000 after buying an additional 36,313 shares during the last quarter. Skyline Asset Management LP bought a new position in shares of BMC Stock Holdings during the fourth quarter worth approximately $24,159,000. Renaissance Technologies LLC bought a new position in shares of BMC Stock Holdings during the fourth quarter worth approximately $1,872,000. Finally, Cortina Asset Management LLC bought a new position in shares of BMC Stock Holdings during the fourth quarter worth approximately $9,449,000. 84.98% of the stock is currently owned by hedge funds and other institutional investors.

The company has a 50 day moving average of $22.54 and a 200-day moving average of $20.30. The firm has a market capitalization of $1.37 billion, a P/E ratio of 33.347 and a beta of 1.48.

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About BMC Stock Holdings

BMC Stock Holdings, Inc is a provider of building products and services in the United States residential construction market. The Company’s segments include Mid-Atlantic, Southeast, Texas, Intermountain, Western and Mountain West divisions. Its product offerings include lumber and lumber sheet goods and an array of products, including millwork, doors, windows, structural components, floor and roof trusses and wall panels.

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