Several other equities research analysts have also recently weighed in on BCC. Bank of America cut shares of Boise Cascade from a “neutral” rating to an “underperform” rating and set a $22.00 price objective for the company. in a research report on Friday, July 12th. Zacks Investment Research raised Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research note on Thursday, August 8th. Finally, Goldman Sachs Group upgraded Boise Cascade from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Boise Cascade currently has an average rating of “Buy” and a consensus target price of $32.40.
Shares of NYSE BCC traded down $1.01 during mid-day trading on Wednesday, hitting $38.18. The company’s stock had a trading volume of 469,555 shares, compared to its average volume of 294,741. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.53 and a quick ratio of 1.29. Boise Cascade has a one year low of $22.00 and a one year high of $39.65. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.38 and a beta of 2.02. The company’s fifty day simple moving average is $33.79 and its 200-day simple moving average is $28.96.
Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, November 7th. The construction company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.01. Boise Cascade had a negative net margin of 0.41% and a positive return on equity of 8.46%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Boise Cascade will post 1.97 EPS for the current year.
In related news, insider Stewart David acquired 196,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was acquired at an average cost of $0.23 per share, with a total value of $45,276.00. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCC. FMR LLC raised its stake in shares of Boise Cascade by 436.4% during the 1st quarter. FMR LLC now owns 3,331 shares of the construction company’s stock valued at $89,000 after buying an additional 2,710 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Boise Cascade by 22.2% during the 1st quarter. First Trust Advisors LP now owns 89,785 shares of the construction company’s stock worth $2,403,000 after purchasing an additional 16,333 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Boise Cascade by 5.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,090 shares of the construction company’s stock worth $424,000 after purchasing an additional 830 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Boise Cascade by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 60,459 shares of the construction company’s stock worth $1,700,000 after purchasing an additional 745 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Boise Cascade by 1.7% in the second quarter. Strs Ohio now owns 30,700 shares of the construction company’s stock valued at $862,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.
About Boise Cascade
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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