Boise Cascade (NYSE:BCC) Stock Price Target Lowered at Truist Financial

Boise Cascade (NYSE:BCC – Get Free Report) had its price target reduced by Truist Financial from $97.00 to $86.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial‘s price target suggests a potential upside of 11.57% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Weiss Ratings downgraded Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. DA Davidson set a $99.00 target price on Boise Cascade in a research note on Tuesday. Loop Capital cut Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research report on Monday, October 26th. Finally, Wall Street Zen downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $90.17.

Check Out Our Latest Stock Report on Boise Cascade

Boise Cascade Stock Performance

Shares of BCC traded up $2.27 during mid-day trading on Wednesday, hitting $77.08. The company’s stock had a trading volume of 57,169 shares, compared to its average volume of 400,810. The stock’s 50-day moving average is $76.16 and its two-hundred day moving average is $77.19. The firm has a market capitalization of $2.69 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. Boise Cascade has a one year low of $65.00 and a one year high of $91.97.

Boise Cascade (NYSE:BCC – Get Free Report) last announced its earnings results on Monday, November 2nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a return on equity of 6.20% and a net margin of 1.83%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. As a group, sell-side analysts anticipate that Boise Cascade will post 3.86 EPS for the current year.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Boise Cascade during the second quarter worth about $463,729,000. Atlas FRM LLC acquired a new stake in Boise Cascade in the 2nd quarter valued at approximately $34,545,350. Bank of America Corp DE acquired a new stake in Boise Cascade in the 2nd quarter valued at approximately $30,351,000. Bank of New York Mellon Corp bought a new stake in Boise Cascade in the 2nd quarter valued at approximately $18,194,000. Finally, Medina Value Partners LLC bought a new stake in Boise Cascade in the 2nd quarter valued at approximately $17,858,160. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade News Summary

Here are the key news stories impacting Boise Cascade this week:

  • Positive Sentiment: Q3 sales reached $1.8 billion, topping estimates of $1.76 billion and rising 8.1% year over year. Net income also increased to $36.4 million from $21.8 million a year earlier. Read More.
  • Neutral Sentiment: Truist lowered its price target to $86 from $97 but kept its Buy rating, signaling a more cautious valuation view while remaining positive on the shares. Read More.
  • Negative Sentiment: Q3 EPS of $1.04 fell short of the $1.12 consensus. Analysts also cite soft housing demand and weak construction activity, which limit the recovery despite improved margins and support from plywood pricing. Read More.
  • Negative Sentiment: The transition to a James Hardie/AZEK distribution arrangement replaces lost Trex business, but requires inventory investment and could bring execution risk as contractor relationships shift. Read More.

About Boise Cascade

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Boise Cascade (NYSE:BCC)

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