Loop Capital Lowers Boise Cascade (NYSE:BCC) Price Target to $140.00

Boise Cascade (NYSE:BCC) had its price target lowered by equities research analysts at Loop Capital from $145.00 to $140.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price target would indicate a potential upside of 31.44% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial decreased their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, The Goldman Sachs Group decreased their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Stock Up 2.7 %

Shares of Boise Cascade stock opened at $106.52 on Monday. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.04 billion, a P/E ratio of 11.14 and a beta of 1.57. Boise Cascade has a fifty-two week low of $102.27 and a fifty-two week high of $155.42. The business has a 50-day moving average price of $121.97 and a 200 day moving average price of $132.03.

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

Hedge Funds Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently made changes to their positions in BCC. Norges Bank acquired a new position in shares of Boise Cascade during the fourth quarter worth approximately $55,680,000. First Trust Advisors LP boosted its position in shares of 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 buying an additional 195,773 shares during the period. American Century Companies Inc. raised its holdings in Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. Bank of Montreal Can raised its holdings in Boise Cascade by 1,597.4% during the third 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 in the last quarter. Finally, Tidal Investments LLC raised its holdings in Boise Cascade by 534.5% during the fourth 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 in the last quarter. 96.18% of the stock is currently 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.