Wall Street Zen Upgrades Boise Cascade (NYSE:BCC) to Hold

Boise Cascade (NYSE:BCC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms also recently weighed in on BCC. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. The Goldman Sachs Group increased their price target on shares of Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price objective on Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson reiterated a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a report on Tuesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.67.

Boise Cascade Stock Performance

NYSE BCC opened at $82.63 on Friday. The business has a 50 day moving average price of $82.08 and a 200 day moving average price of $78.95. The company has a market capitalization of $2.95 billion, a P/E ratio of 23.47 and a beta of 1.27. Boise Cascade has a 1-year low of $65.14 and a 1-year high of $106.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.69.

Institutional Trading of Boise Cascade

A number of institutional investors have recently added to or reduced their stakes in BCC. Salomon & Ludwin LLC acquired a new stake in Boise Cascade in the 3rd quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Boise Cascade by 231.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after buying an additional 259 shares during the period. Fifth Third Bancorp grew its stake in shares of Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after buying an additional 179 shares in the last quarter. Huntington National Bank raised its holdings in shares of Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after buying an additional 378 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after acquiring an additional 450 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.