DA Davidson Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its target price cut by DA Davidson from $115.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 19.20% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Bank of America reduced their price target on Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. Loop Capital cut their target price on Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Truist Financial lowered their price target on Boise Cascade from $114.00 to $106.00 and set a “buy” rating for the company in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Boise Cascade currently has an average rating of “Moderate Buy” and a consensus target price of $116.00.

Boise Cascade Trading Down 3.3%

Shares of Boise Cascade stock opened at $83.89 on Friday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 3.88 and a beta of 1.34. Boise Cascade has a fifty-two week low of $83.46 and a fifty-two week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. The stock has a 50 day moving average of $88.61 and a 200 day moving average of $100.68.

Boise Cascade (NYSE:BCC) last released its 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). The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $2.61 earnings per share. As a group, research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Insider Activity at Boise Cascade

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

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently made changes to their positions in the business. Vise Technologies Inc. increased its holdings in Boise Cascade by 3.4% in the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Boise Cascade by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company’s stock valued at $658,000 after acquiring an additional 114 shares during the last quarter. Peak Financial Advisors LLC boosted its position in shares of Boise Cascade by 4.8% during the 1st quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company’s stock valued at $355,000 after acquiring an additional 166 shares during the last quarter. Bridge City Capital LLC boosted its position in shares of Boise Cascade by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 21,528 shares of the construction company’s stock valued at $2,559,000 after acquiring an additional 192 shares during the last quarter. Finally, 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 valued at $30,000 after acquiring an additional 211 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.