Boise Cascade (NYSE:BCC) Downgraded by Benchmark to Hold

Boise Cascade (NYSE:BCCGet Rating) was downgraded by equities researchers at Benchmark from a “buy” rating to a “hold” rating in a report released on Tuesday, The Fly reports.

A number of other research firms also recently issued reports on BCC. DA Davidson raised shares of Boise Cascade from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $82.00 in a report on Thursday, February 24th. The Goldman Sachs Group upgraded Boise Cascade from a “sell” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $77.00 in a research note on Friday, January 21st. Bank of America upgraded Boise Cascade from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $82.00 in a research note on Wednesday, January 19th. StockNews.com cut Boise Cascade from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 4th. Finally, Zacks Investment Research raised Boise Cascade from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Tuesday, January 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $75.80.

Shares of NYSE BCC opened at $81.66 on Tuesday. The firm has a market cap of $3.22 billion, a P/E ratio of 3.75, a price-to-earnings-growth ratio of 2.20 and a beta of 1.50. The business’s 50 day moving average is $75.25 and its 200-day moving average is $72.27. The company has a current ratio of 2.94, a quick ratio of 1.91 and a debt-to-equity ratio of 0.35. Boise Cascade has a 1-year low of $46.51 and a 1-year high of $85.17.

Boise Cascade (NYSE:BCCGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The construction company reported $7.61 earnings per share for the quarter, topping the consensus estimate of $6.50 by $1.11. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Boise Cascade had a return on equity of 67.06% and a net margin of 10.27%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.76 EPS. Analysts forecast that Boise Cascade will post 15.07 EPS for the current year.

In related news, EVP Dean Michael Brown sold 2,394 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $82.58, for a total transaction of $197,696.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jill Twedt sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $77.85, for a total transaction of $311,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,215 shares of company stock valued at $882,242. 0.89% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BCC. EverSource Wealth Advisors LLC acquired a new stake in shares of Boise Cascade during the fourth quarter valued at about $25,000. Rockefeller Capital Management L.P. increased its position in Boise Cascade by 758.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 369 shares of the construction company’s stock valued at $26,000 after acquiring an additional 326 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Boise Cascade during the fourth quarter valued at $34,000. Eaton Vance Management lifted its holdings in shares of Boise Cascade by 24.1% during the fourth quarter. Eaton Vance Management now owns 3,343 shares of the construction company’s stock worth $35,000 after purchasing an additional 649 shares during the period. Finally, Mystic Asset Management Inc. bought a new stake in shares of Boise Cascade in the fourth quarter worth $40,000. 91.42% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Company Profile (Get Rating)

Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine lumber products.

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