Boise Cascade (NYSE:BCC) Rating Lowered to Hold at StockNews.com

Boise Cascade (NYSE:BCC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other analysts have also recently issued reports on BCC. Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. The Goldman Sachs Group cut their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial raised their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Trading Down 0.6 %

NYSE:BCC opened at $140.85 on Wednesday. The stock’s 50-day moving average is $136.39 and its two-hundred day moving average is $132.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The stock has a market cap of $5.56 billion, a PE ratio of 13.78 and a beta of 1.53. Boise Cascade has a fifty-two week low of $102.13 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 17.98% and a net margin of 5.95%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $3.58 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Institutional Trading of Boise Cascade

Institutional investors and hedge funds have recently modified their holdings of the company. UniSuper Management Pty Ltd bought a new position in Boise Cascade in the 1st quarter worth $1,055,000. Algert Global LLC grew its position in shares of Boise Cascade by 8.3% in the second quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock valued at $9,451,000 after purchasing an additional 6,059 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Boise Cascade by 80.2% in the first quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after purchasing an additional 10,467 shares during the period. Burney Co. acquired a new position in shares of Boise Cascade during the 1st quarter worth about $673,000. Finally, Seven Eight Capital LP boosted its stake in Boise Cascade by 31.6% during the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after purchasing an additional 4,300 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of 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 shop lumber and appearance grade boards.