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

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

Other equities analysts also recently issued reports about the company. BMO Capital Markets increased 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. Bank of America raised their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. The Goldman Sachs Group decreased their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Truist Financial boosted their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Stock Up 2.4 %

Shares of BCC traded up $3.27 during midday trading on Wednesday, hitting $141.76. The company had a trading volume of 438,947 shares, compared to its average volume of 310,006. The company’s 50-day simple moving average is $136.25 and its 200-day simple moving average is $132.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The firm has a market capitalization of $5.60 billion, a P/E ratio of 12.36 and a beta of 1.53. Boise Cascade has a 1 year low of $101.82 and a 1 year high of $154.67.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $3.58 EPS. As a group, sell-side 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 added to or reduced their stakes in the company. First Trust Direct Indexing L.P. bought a new stake in Boise Cascade during the 1st quarter worth approximately $204,000. BNP Paribas Financial Markets increased its holdings in Boise Cascade by 80.2% during the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after purchasing an additional 10,467 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after purchasing an additional 500 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Boise Cascade by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 34,649 shares of the construction company’s stock worth $5,314,000 after purchasing an additional 449 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of Boise Cascade in the 1st quarter valued at about $289,000. Institutional investors and hedge funds 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.