Boise Cascade (NYSE:BCC) Earns “Buy” Rating from DA Davidson

Boise Cascade (NYSE:BCC)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research report issued on Tuesday,Benzinga reports. They presently have a $95.00 target price on the construction company’s stock. DA Davidson’s price objective would suggest a potential upside of 9.26% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Truist Financial upped their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Boise Cascade Price Performance

Shares of NYSE:BCC traded up $6.41 during trading on Tuesday, reaching $86.95. The stock had a trading volume of 302,170 shares, compared to its average volume of 391,766. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. The business has a fifty day moving average price of $81.45 and a 200-day moving average price of $78.84. The stock has a market cap of $3.22 billion, a PE ratio of 17.13 and a beta of 1.27. Boise Cascade has a 1-year low of $65.14 and a 1-year high of $108.43.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock valued at $3,404,000 after acquiring an additional 1,332 shares during the period. AQR Capital Management LLC grew its holdings in shares of Boise Cascade by 8.8% during the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after buying an additional 2,966 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Boise Cascade by 1,638.4% during the 1st quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after acquiring an additional 3,883 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Boise Cascade in the 1st quarter valued at approximately $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Boise Cascade by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock valued at $19,974,000 after buying an additional 3,978 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.