Boise Cascade (NYSE:BCC) Cut to “Hold” at Loop Capital

Boise Cascade (NYSE:BCC) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a report issued on Monday, MarketBeat reports. They presently have a $85.00 price objective on the construction company’s stock. Loop Capital‘s price target indicates a potential upside of 9.29% from the company’s previous close.

Several other analysts have also issued reports on the company. DA Davidson upped their target price on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Bank of America decreased their price target on shares of Boise Cascade from $89.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 14th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Zacks Research cut shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.00.

Boise Cascade Trading Up 0.0%

Shares of BCC stock opened at $77.78 on Monday. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $76.93 and a two-hundred day moving average price of $76.09. Boise Cascade has a 12-month low of $65.00 and a 12-month high of $91.97. The firm has a market cap of $2.71 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 EPS. Equities analysts anticipate that Boise Cascade will post 3.86 EPS for the current fiscal year.

Insider Transactions at Boise Cascade

In other news, SVP Jill Twedt sold 1,250 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the sale, the senior vice president owned 25,295 shares of the company’s stock, valued at approximately $2,008,423. The trade was a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kristopher Matula sold 1,930 shares of the 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 of the company’s stock, valued at $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Boise Cascade during the second quarter valued at approximately $463,729,000. Dimensional Fund Advisors LP increased its stake in shares of Boise Cascade by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock worth $176,410,000 after buying an additional 46,561 shares during the period. State Street Corp increased its stake in shares of Boise Cascade by 2.8% in the second quarter. State Street Corp now owns 1,497,224 shares of the construction company’s stock worth $116,229,000 after buying an additional 41,324 shares during the period. Atlas FRM LLC bought a new stake in Boise Cascade during the 2nd quarter valued at $34,545,350. Finally, Bank of America Corp DE bought a new stake in Boise Cascade during the 2nd quarter valued at $30,351,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.