Boise Cascade (NYSE:BCC) Rating Lowered to Hold at Loop Capital

Boise Cascade (NYSE:BCC – Get Free Report) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a report issued on Monday, Marketbeat.com reports. They currently have a $85.00 price target on the construction company’s stock. Loop Capital‘s price objective suggests a potential upside of 9.29% from the company’s previous close.

BCC has been the subject of several other research reports. The Goldman Sachs Group increased their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Wall Street Zen raised Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson upped their target price on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.00.

Get Our Latest Stock Report on Boise Cascade

Boise Cascade Stock Up 0.0%

NYSE BCC opened at $77.78 on Monday. 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 stock has a market capitalization of $2.71 billion, a PE ratio of 26.36, a PEG ratio of 1.01 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 business’s 50-day moving average is $76.93 and its 200 day moving average is $76.09.

Boise Cascade (NYSE:BCC – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $1.64 EPS. Boise Cascade’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Boise Cascade will post 3.86 earnings per share for the current year.

Insider Transactions at Boise Cascade

In other news, Director Kristopher Matula sold 1,930 shares of Boise Cascade stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. This represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.42% of the company’s stock.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently bought and sold shares of BCC. Nykredit A S bought a new stake in Boise Cascade during the 2nd quarter valued at approximately $69,000. Signaturefd LLC grew its holdings in shares of Boise Cascade by 16.3% during the 3rd quarter. Signaturefd LLC now owns 1,000 shares of the construction company’s stock worth $74,000 after acquiring an additional 140 shares during the period. GAMMA Investing LLC raised its position in shares of Boise Cascade by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,164 shares of the construction company’s stock worth $86,000 after acquiring an additional 186 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Boise Cascade by 309.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,431 shares of the construction company’s stock worth $180,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Boise Cascade in the 2nd quarter worth approximately $208,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

(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.

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