Truist Financial Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price objective cut by stock analysts at Truist Financial from $157.00 to $134.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price suggests a potential upside of 25.80% from the stock’s previous close.

BCC has been the topic of a number of other reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital reduced their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, DA Davidson reduced their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Trading Up 2.7 %

NYSE:BCC opened at $106.52 on Monday. The company has a fifty day moving average of $121.97 and a 200 day moving average of $132.03. Boise Cascade has a 52 week low of $102.27 and a 52 week high of $155.42. 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 capitalization of $4.04 billion, a P/E ratio of 11.14 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results 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 net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Institutional Trading of Boise Cascade

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC grew its position in shares of Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Boise Cascade by 4.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after buying an additional 78 shares during the period. Vise Technologies Inc. grew its position in shares of Boise Cascade by 3.4% in the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after buying an additional 100 shares during the period. First Trust Direct Indexing L.P. grew its position in Boise Cascade by 7.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after purchasing an additional 128 shares during the last quarter. Finally, Invst LLC grew its position in Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after purchasing an additional 128 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

About Boise Cascade

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.