Boise Cascade (NYSE:BCC) Cut to Hold at StockNews.com

Boise Cascade (NYSE:BCC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research firms also recently commented on BCC. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Loop Capital assumed coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Bank of America increased their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Trading Down 0.6 %

Shares of Boise Cascade stock opened at $140.85 on Wednesday. Boise Cascade has a 52-week low of $102.13 and a 52-week high of $154.67. The firm has a market capitalization of $5.56 billion, a PE ratio of 13.78 and a beta of 1.53. 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 company’s fifty day moving average price is $136.39 and its two-hundred day moving average price is $132.63.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 17.98%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.58 EPS. On average, analysts expect that Boise Cascade will post 9.69 EPS for the current year.

Hedge Funds Weigh In On Boise Cascade

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new position in Boise Cascade in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC bought a new stake in shares of Boise Cascade during the second quarter worth $36,000. iA Global Asset Management Inc. acquired a new position in shares of Boise Cascade during the first quarter valued at $82,000. Daiwa Securities Group Inc. boosted its holdings in Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after acquiring an additional 500 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after purchasing an additional 197 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.