Truist Financial Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its target price lowered by research analysts at Truist Financial from $103.00 to $100.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective indicates a potential upside of 27.04% from the stock’s current price.

BCC has been the topic of a number of other research reports. Wall Street Zen upgraded Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 30th. The Goldman Sachs Group raised their target price on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. DA Davidson restated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a report on Tuesday, February 24th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.20.

Boise Cascade Stock Down 0.2%

BCC stock opened at $78.72 on Wednesday. Boise Cascade has a twelve month low of $65.14 and a twelve month high of $98.20. The company has a quick ratio of 1.74, a current ratio of 3.36 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $78.60 and its 200-day moving average is $76.64. The firm has a market capitalization of $2.82 billion, a PE ratio of 22.36, a P/E/G ratio of 1.11 and a beta of 1.23.

Institutional Trading of Boise Cascade

Several hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its position in Boise Cascade by 3.8% in the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after acquiring an additional 121 shares during the period. Raymond James Financial Inc. raised its position in Boise Cascade by 1.0% in the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after acquiring an additional 126 shares during the period. PNC Financial Services Group Inc. raised its position in Boise Cascade by 6.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company’s stock worth $211,000 after acquiring an additional 158 shares during the period. Harbor Capital Advisors Inc. raised its position in Boise Cascade by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company’s stock worth $663,000 after acquiring an additional 163 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Boise Cascade by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company’s stock worth $1,558,000 after acquiring an additional 164 shares during the period. Institutional investors own 96.18% of the company’s stock.

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.