Boise Cascade L.L.C. (BCC) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
A number of other equities analysts have also recently commented on BCC. Bank of America Corp. cut shares of Boise Cascade L.L.C. from a buy rating to a neutral rating and set a $23.00 target price on the stock. in a research report on Friday, July 1st. They noted that the move was a valuation call. Goldman Sachs Group Inc. started coverage on shares of Boise Cascade L.L.C. in a research report on Thursday, September 22nd. They issued a buy rating and a $34.00 target price on the stock. BMO Capital Markets reiterated a buy rating and issued a $30.00 target price on shares of Boise Cascade L.L.C. in a research report on Friday, July 29th. Finally, TheStreet upgraded shares of Boise Cascade L.L.C. from a hold rating to a buy rating in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $29.75.
Boise Cascade L.L.C. (NYSE:BCC) opened at 25.95 on Wednesday. Boise Cascade L.L.C. has a one year low of $13.80 and a one year high of $33.15. The stock’s 50 day moving average is $25.43 and its 200 day moving average is $23.30. The firm has a market capitalization of $1.01 billion, a P/E ratio of 20.81 and a beta of 1.84.
Boise Cascade L.L.C. (NYSE:BCC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.12. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Boise Cascade L.L.C. had a net margin of 1.28% and a return on equity of 9.37%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. On average, equities research analysts predict that Boise Cascade L.L.C. will post $1.47 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Boise Cascade L.L.C. during the fourth quarter worth $11,623,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Boise Cascade L.L.C. during the first quarter valued at approximately $298,000. TIAA CREF Investment Management LLC raised its stake in Boise Cascade L.L.C. by 82.8% in the first quarter. TIAA CREF Investment Management LLC now owns 249,999 shares of the company’s stock valued at $5,180,000 after buying an additional 113,240 shares during the last quarter. Teachers Advisors Inc. raised its stake in Boise Cascade L.L.C. by 10.8% in the first quarter. Teachers Advisors Inc. now owns 288,750 shares of the company’s stock valued at $5,983,000 after buying an additional 28,078 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Boise Cascade L.L.C. during the first quarter valued at approximately $434,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
Boise Cascade L.L.C. Company Profile
Boise Cascade Company, formerly Boise Cascade, LLC., is a plywood and engineered wood products (EWP) manufacturer and building materials distributor with operations throughout the United States. The Company’s segments include Wood Products, Building Materials Distribution, and Corporate and Other. Its Wood Products segment manufactures plywood, EWP, studs, particleboard and ponderosa pine lumber.
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