Boise Cascade (NYSE:BCC) Given New $125.00 Price Target at DA Davidson

Boise Cascade (NYSE:BCC) had its target price lowered by equities research analysts at DA Davidson from $155.00 to $125.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. DA Davidson’s price target would suggest a potential upside of 18.37% from the stock’s current price.

Several other equities research analysts also recently issued reports on BCC. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital reduced their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial dropped their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $134.67.

Boise Cascade Trading Down 1.1 %

NYSE BCC traded down $1.19 on Monday, reaching $105.60. The company had a trading volume of 109,628 shares, compared to its average volume of 292,765. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $102.27 and a 52 week high of $155.42. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 11.02 and a beta of 1.57. The stock’s 50 day moving average is $123.15 and its 200-day moving average is $132.34.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 16.89%. Equities analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Hedge Funds Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of BCC. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade during the 3rd quarter worth approximately $28,000. R Squared Ltd bought a new stake in shares of Boise Cascade in the fourth quarter valued at approximately $29,000. Quarry LP boosted its stake in shares of Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after buying an additional 211 shares during the period. Larson Financial Group LLC grew its position in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after acquiring an additional 145 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Company Profile

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.