Boise Cascade (NYSE:BCC) Raised to Buy at Wall Street Zen

Boise Cascade (NYSE:BCC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research firms also recently commented on BCC. Truist Financial set a $97.00 price objective on Boise Cascade in a research note on Wednesday, May 6th. Bank of America raised their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 14th. DA Davidson boosted their target price on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group upped their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings downgraded Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $93.60.

Boise Cascade Stock Performance

Shares of BCC stock opened at $86.74 on Friday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. Boise Cascade has a 52 week low of $65.00 and a 52 week high of $91.97. The firm’s 50-day simple moving average is $75.35 and its two-hundred day simple moving average is $76.92.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Boise Cascade will post 3.86 earnings per share for the current year.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the transaction, the senior vice president owned 26,545 shares of the company’s stock, valued at $1,763,915.25. This represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the sale, the director owned 13,982 shares in the company, valued at $1,182,597.56. The trade was a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by insiders.

Institutional Trading of Boise Cascade

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC grew its position in Boise Cascade by 3.8% during the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after buying an additional 121 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Boise Cascade by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock valued at $1,148,000 after acquiring an additional 126 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Boise Cascade by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company’s stock valued at $1,558,000 after acquiring an additional 164 shares during the period. Fifth Third Bancorp lifted its position in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Boise Cascade by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,329 shares of the construction company’s stock worth $539,000 after purchasing an additional 226 shares in the last quarter. Institutional investors 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.