Boise Cascade (NYSE:BCC) Stock Rating Lowered by Wall Street Zen

by · The Markets Daily

Boise Cascade (NYSE:BCC – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently weighed in on BCC. Loop Capital downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a research report on Monday, October 26th. The Goldman Sachs Group boosted their target price on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Bank of America lowered their price target on shares of Boise Cascade from $89.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 14th. DA Davidson raised their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus target price of $92.00.

Get Our Latest Analysis on BCC

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $78.66 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The firm has a market cap of $2.74 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.03 and a beta of 1.08. The firm’s fifty day moving average is $76.45 and its 200-day moving average is $77.28. Boise Cascade has a 52 week low of $65.00 and a 52 week high of $91.97.

Boise Cascade (NYSE:BCC – Get Free Report) last issued its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. Sell-side analysts predict that Boise Cascade will post 3.86 earnings per share for the current year.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the sale, the senior vice president directly owned 25,295 shares of the company’s stock, valued at $2,008,423. This represents a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristopher Matula sold 1,930 shares of Boise Cascade stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the sale, the director owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This trade represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its holdings in Boise Cascade by 162.5% during the 3rd quarter. Covestor Ltd now owns 504 shares of the construction company’s stock valued at $38,000 after purchasing an additional 312 shares during the period. Bridge City Capital LLC increased its holdings in Boise Cascade by 21.3% in the 3rd quarter. Bridge City Capital LLC now owns 21,028 shares of the construction company’s stock worth $1,559,000 after buying an additional 3,687 shares during the period. Vise Technologies Inc. lifted its position in shares of Boise Cascade by 52.1% during the 3rd quarter. Vise Technologies Inc. now owns 4,083 shares of the construction company’s stock valued at $303,000 after buying an additional 1,399 shares in the last quarter. Summit Global Investments increased its position in Boise Cascade by 271.3% during the third quarter. Summit Global Investments now owns 10,670 shares of the construction company’s stock worth $791,000 after purchasing an additional 7,796 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Boise Cascade by 24.6% in the third quarter. State of Wyoming now owns 4,535 shares of the construction company’s stock valued at $336,000 after purchasing an additional 895 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

(Get Free Report)

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.

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