Boise Cascade (NYSE:BCC) Downgraded by Zacks Research to “Hold”

Boise Cascade (NYSE:BCC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

BCC has been the topic of a number of other reports. Bank of America boosted their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. DA Davidson lifted their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Truist Financial set a $97.00 price target on shares of Boise Cascade in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group upped their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.60.

Boise Cascade Stock Performance

NYSE:BCC opened at $80.17 on Monday. The company has a market capitalization of $2.80 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.12 and a beta of 1.10. The business has a fifty day simple moving average of $77.39 and a two-hundred day simple moving average of $76.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97.

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

Insider Activity

In other news, Director Kristopher J. Matula sold 1,930 shares of Boise Cascade stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the sale, the director owned 13,982 shares in the company, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds and other institutional investors have recently bought and sold shares of BCC. Caitong International Asset Management Co. Ltd raised its position in shares of Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after buying an additional 259 shares in the last quarter. Fifth Third Bancorp lifted its holdings 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 worth $30,000 after acquiring an additional 179 shares during the last quarter. Advisory Services Network LLC purchased a new position in Boise Cascade in the third quarter worth $38,000. UMB Bank n.a. grew its position in Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after acquiring an additional 260 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Boise Cascade in the third quarter valued at $44,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

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.