Boise Cascade (NYSE:BCC) Stock Price Target Cut by Bank of America

Boise Cascade (NYSE:BCC – Get Free Report) had its target price cut by stock analysts at Bank of America from $89.00 to $80.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “underperform” rating on the construction company’s stock. Bank of America‘s price target suggests a potential upside of 7.96% from the stock’s current price.

A number of other brokerages have also recently commented on BCC. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. The Goldman Sachs Group upped their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, DA Davidson raised their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus target price of $93.40.

Get Our Latest Stock Report on Boise Cascade

Boise Cascade Trading Up 0.9%

Shares of NYSE:BCC opened at $74.10 on Wednesday. The company has a market capitalization of $2.59 billion, a P/E ratio of 23.60, a P/E/G ratio of 0.99 and a beta of 1.08. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. The business’s 50 day simple moving average is $78.30 and its 200 day simple moving average is $75.99.

Boise Cascade (NYSE:BCC – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. On average, research analysts anticipate that Boise Cascade will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president directly owned 25,295 shares of the company’s stock, valued at $2,008,423. This trade represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.42% of the company’s stock.

Institutional Trading of Boise Cascade

Several large investors have recently bought and sold shares of the business. Nykredit A S bought a new position in shares of Boise Cascade in the 2nd quarter valued at $69,000. GAMMA Investing LLC boosted its holdings in shares of Boise Cascade by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,164 shares of the construction company’s stock valued at $86,000 after acquiring an additional 186 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Boise Cascade by 309.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,431 shares of the construction company’s stock valued at $180,000 after acquiring an additional 1,837 shares in the last quarter. Vise Technologies Inc. bought a new stake in Boise Cascade during the 2nd quarter worth $208,000. Finally, Swiss Life Asset Management Ltd bought a new stake in Boise Cascade during the 2nd quarter worth $212,000. 96.18% of the stock is owned by institutional investors and hedge funds.

About Boise Cascade

(Get Free Report)

Boise Cascade Company is a manufacturer of wood products and a wholesale distributor of building materials. The company serves residential and commercial construction markets, as well as industrial and remodeling customers, primarily in the United States.

Through its Wood Products segment, Boise Cascade manufactures engineered wood products such as laminated veneer lumber, I-joists, laminated beams, plywood and related structural panels. These products are used in floors, roofs, walls and other structural applications.

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Analyst Recommendations for Boise Cascade (NYSE:BCC)

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