Bank of America Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price target dropped by equities researchers at Bank of America from $111.00 to $107.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would indicate a potential upside of 14.61% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Loop Capital reduced their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial reduced their target price on shares of Boise Cascade from $114.00 to $106.00 and set a “buy” rating for the company in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.17.

Boise Cascade Stock Up 1.1%

NYSE:BCC opened at $93.36 on Wednesday. The company’s fifty day moving average price is $88.96 and its 200-day moving average price is $102.22. Boise Cascade has a 1-year low of $83.60 and a 1-year high of $155.42. The firm has a market capitalization of $3.51 billion, a P/E ratio of 11.66, a PEG ratio of 4.27 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $2.61 earnings per share. The business’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the sale, the senior vice president owned 34,649 shares in the company, valued at approximately $3,049,458.49. The trade was a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the transaction, the executive vice president directly owned 12,372 shares in the company, valued at $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boise Cascade

Several institutional investors have recently bought and sold shares of the company. Quarry LP boosted its position in shares of Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after purchasing an additional 211 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock worth $40,000 after buying an additional 222 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company’s stock worth $47,000 after buying an additional 369 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock worth $90,000 after buying an additional 444 shares in the last quarter. Finally, Curat Global LLC purchased a new stake in shares of Boise Cascade in the 1st quarter worth about $122,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Company Profile

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.