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

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

Other research analysts have also issued research reports about the stock. Truist Financial decreased their price target on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. The Goldman Sachs Group reduced their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $126.00.

Boise Cascade Stock Performance

Shares of NYSE BCC traded up $5.41 during midday trading on Tuesday, hitting $129.63. 541,551 shares of the company’s stock were exchanged, compared to its average volume of 311,862. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The company’s 50 day moving average price is $127.64 and its 200 day moving average price is $134.62. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.12 billion, a PE ratio of 10.54 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, analysts predict that Boise Cascade will post 10.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 1,852 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the completion of the sale, the senior vice president now directly owns 37,437 shares in the company, valued at $5,053,995. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares of the company’s stock, valued at $5,852,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jill Twedt sold 1,852 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total transaction of $250,020.00. Following the sale, the senior vice president now owns 37,437 shares in the company, valued at $5,053,995. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

A number of institutional investors and hedge funds have recently made changes to their positions in BCC. USA Financial Formulas increased its stake in Boise Cascade by 5,050.0% in the fourth quarter. USA Financial Formulas now owns 206 shares of the construction company’s stock valued at $27,000 after acquiring an additional 202 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Boise Cascade in the 4th quarter valued at $27,000. Global Retirement Partners LLC raised its holdings in shares of Boise Cascade by 1,147.1% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Boise Cascade during the 4th quarter worth $36,000. Finally, Larson Financial Group LLC acquired a new stake in Boise Cascade in the second quarter valued at about $36,000. Institutional investors own 96.18% of the company’s stock.

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.