Boise Cascade (NYSE:BCC) Given New $161.00 Price Target at Truist Financial

Boise Cascade (NYSE:BCC) had its price objective increased by stock analysts at Truist Financial from $154.00 to $161.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would indicate a potential upside of 9.52% from the stock’s current price.

A number of other research analysts also recently weighed in on BCC. Bank of America upped their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and a consensus price target of $129.75.

Boise Cascade Stock Up 3.4 %

Shares of NYSE:BCC opened at $147.00 on Tuesday. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The company has a market cap of $5.80 billion, a PE ratio of 11.95 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The stock’s 50-day moving average is $133.89 and its 200 day moving average is $133.57.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $3.67 EPS. Boise Cascade’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Boise Cascade will post 9.71 EPS for the current year.

Institutional Trading of Boise Cascade

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC grew its stake in shares of Boise Cascade by 1.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after buying an additional 95 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in Boise Cascade by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after purchasing an additional 113 shares during the period. Miller Howard Investments Inc. NY raised its holdings in Boise Cascade by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after purchasing an additional 124 shares during the period. Bank of Montreal Can raised its holdings in Boise Cascade by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after purchasing an additional 137 shares during the period. Finally, MorganRosel Wealth Management LLC raised its holdings in Boise Cascade by 1.8% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock worth $925,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

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.