Boise Cascade (NYSE:BCC) Upgraded at StockNews.com

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

Other equities research analysts have also issued reports about the stock. Truist Financial boosted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group upped their price target on shares of Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $8.70 during midday trading on Tuesday, reaching $130.67. 698,889 shares of the company’s stock traded hands, compared to its average volume of 301,591. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. Boise Cascade has a one year low of $70.66 and a one year high of $154.67. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 10.78 and a beta of 1.64. The stock has a 50 day moving average of $140.32 and a 200 day moving average of $128.04.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.31. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business earned $2.43 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Boise Cascade will post 11.44 EPS for the current fiscal year.

Insider Activity at Boise Cascade

In related news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the sale, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

Institutional investors and hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. bought a new stake in Boise Cascade during the 3rd quarter valued at approximately $2,682,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $1,200,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Boise Cascade by 54.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after buying an additional 20,712 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Boise Cascade by 81.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $1,052,000 after purchasing an additional 3,660 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Boise Cascade by 23.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock worth $952,000 after purchasing an additional 1,772 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

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.