Boise Cascade (NYSE:BCC) Price Target Cut to $107.00 by Analysts at Bank of America

Boise Cascade (NYSE:BCC) had its price target lowered by Bank of America from $111.00 to $107.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 14.61% from the company’s current price.

Other analysts also recently issued research reports about the stock. Loop Capital dropped their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial dropped their target price on shares of Boise Cascade from $114.00 to $106.00 and set a “buy” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Moderate Buy” and an average price target of $120.17.

Boise Cascade Stock Up 1.1%

BCC opened at $93.36 on Wednesday. The firm has a 50 day moving average price of $88.96 and a 200 day moving average price of $102.22. The company has a market cap of $3.51 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 4.27 and a beta of 1.34. Boise Cascade has a 1 year low of $83.60 and a 1 year high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $2.61 EPS. Sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Joanna L. Barney sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president owned 12,372 shares of the company’s stock, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president directly owned 34,649 shares of the company’s stock, valued at $3,049,458.49. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of Boise Cascade

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Boise Cascade during the fourth quarter worth $55,680,000. Westwood Holdings Group Inc. lifted its stake in Boise Cascade by 25.7% during the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company’s stock worth $147,067,000 after purchasing an additional 306,684 shares during the last quarter. First Trust Advisors LP lifted its stake in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares during the last quarter. GAMMA Investing LLC lifted its stake in Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company’s stock worth $14,028,000 after purchasing an additional 142,107 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after buying an additional 121,790 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.