Boise Cascade (NYSE:BCC) Stock Rating Lowered by BMO Capital Markets

Boise Cascade (NYSE:BCC) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $88.00 price target on the construction company’s stock, down from their previous price target of $100.00. BMO Capital Markets‘s price target suggests a potential upside of 25.32% from the company’s previous close.

Several other analysts have also weighed in on BCC. The Goldman Sachs Group increased their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Zacks Research cut shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Truist Financial reduced their target price on shares of Boise Cascade from $97.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Loop Capital cut shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research note on Monday, October 26th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $88.17.

Boise Cascade Price Performance

Shares of Boise Cascade stock traded down $3.53 during trading hours on Thursday, reaching $70.22. The company’s stock had a trading volume of 324,041 shares, compared to its average volume of 340,266. The firm has a 50 day moving average price of $75.81 and a 200-day moving average price of $77.02. Boise Cascade has a one year low of $65.00 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. The stock has a market cap of $2.45 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.98 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 2nd. The construction company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Boise Cascade had a net margin of 1.83% and a return on equity of 6.20%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Boise Cascade will post 3.20 EPS for the current year.

Insider Buying and Selling

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the sale, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Boise Cascade in the 2nd quarter worth $463,729,000. Atlas FRM LLC acquired a new position in shares of Boise Cascade during the second quarter worth $34,545,350. Bank of America Corp DE acquired a new position in shares of Boise Cascade during the second quarter worth $30,351,000. Bank of New York Mellon Corp purchased a new stake in shares of Boise Cascade during the 2nd quarter valued at $18,194,000. Finally, Medina Value Partners LLC purchased a new stake in shares of Boise Cascade during the 2nd quarter valued at $17,858,160. 96.18% of the stock is currently owned by institutional investors.

About Boise Cascade

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.