Boise Cascade (NYSE:BCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, January 4th.
According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
Several other brokerages also recently weighed in on BCC. Bank of America downgraded shares of Boise Cascade from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $36.00 in a report on Monday, October 2nd. ValuEngine raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Vertical Research downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a report on Wednesday, October 4th. DA Davidson downgraded shares of Boise Cascade from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Tuesday, October 3rd. Finally, Sidoti started coverage on shares of Boise Cascade in a report on Friday, September 15th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Boise Cascade currently has a consensus rating of “Hold” and an average target price of $36.40.
Shares of Boise Cascade (NYSE BCC) traded down $0.30 on Thursday, reaching $41.15. 349,900 shares of the company’s stock were exchanged, compared to its average volume of 554,914. The stock has a market cap of $1,610.00, a price-to-earnings ratio of 23.65, a PEG ratio of 1.10 and a beta of 2.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.19 and a current ratio of 2.27. Boise Cascade has a 1-year low of $22.63 and a 1-year high of $41.75.
Boise Cascade (NYSE:BCC) last announced its earnings results on Tuesday, October 31st. The construction company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Boise Cascade had a net margin of 1.59% and a return on equity of 10.66%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. research analysts expect that Boise Cascade will post 1.92 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Boise Cascade by 8.2% during the 2nd quarter. BlackRock Inc. now owns 5,291,341 shares of the construction company’s stock valued at $160,857,000 after purchasing an additional 401,463 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Boise Cascade by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,953,666 shares of the construction company’s stock valued at $103,084,000 after purchasing an additional 120,365 shares during the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of Boise Cascade by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,109,988 shares of the construction company’s stock valued at $38,739,000 after purchasing an additional 37,778 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Boise Cascade by 15.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,099,454 shares of the construction company’s stock valued at $38,371,000 after purchasing an additional 146,442 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Boise Cascade by 4.0% during the 2nd quarter. State Street Corp now owns 909,705 shares of the construction company’s stock valued at $27,654,000 after purchasing an additional 34,986 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.
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About Boise Cascade
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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