Boise Cascade (NYSE:BCC) Receives Hold Rating from Benchmark

Boise Cascade (NYSE:BCC)‘s stock had its “hold” rating restated by stock analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital cut their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial dropped their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Price Performance

Boise Cascade stock opened at $104.03 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 10.88 and a beta of 1.57. Boise Cascade has a 1 year low of $102.27 and a 1 year high of $155.42. The firm has a 50 day moving average price of $121.52 and a 200 day moving average price of $131.84.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Sell-side analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Insider Activity at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Boise Cascade in the fourth quarter worth $55,680,000. First Trust Advisors LP boosted its stake in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after acquiring an additional 195,773 shares during the last quarter. American Century Companies Inc. grew its holdings in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Bank of Montreal Can increased its position in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Boise Cascade by 534.5% in the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock worth $11,921,000 after purchasing an additional 84,487 shares during the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.