Boise Cascade (NYSE:BCC) was upgraded by investment analysts at Vertical Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, The Fly reports.
BCC has been the topic of several other reports. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, August 29th. Bank of America dropped their price target on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 7th. ValuEngine lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $41.00 price target on shares of Boise Cascade in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $45.50.
NYSE BCC opened at $32.60 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 2.25. Boise Cascade has a 1 year low of $31.73 and a 1 year high of $49.30. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.19 and a beta of 1.88.
Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.19. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. Equities research analysts anticipate that Boise Cascade will post 3.45 EPS for the current year.
In other news, VP Kelly E. Hibbs sold 4,114 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $44.30, for a total value of $182,250.20. Following the transaction, the vice president now directly owns 34,101 shares of the company’s stock, valued at $1,510,674.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $44.85, for a total transaction of $442,759.20. Following the completion of the transaction, the chief financial officer now directly owns 86,421 shares in the company, valued at $3,875,981.85. The disclosure for this sale can be found here. Insiders sold 35,472 shares of company stock worth $1,567,444 over the last three months. Insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Boise Cascade in the first quarter valued at about $102,000. Advisors Preferred LLC bought a new position in shares of Boise Cascade in the second quarter valued at about $176,000. Parametrica Management Ltd bought a new position in shares of Boise Cascade in the second quarter valued at about $203,000. CIBC Asset Management Inc bought a new position in Boise Cascade during the second quarter worth about $208,000. Finally, Sun Life Financial INC bought a new position in Boise Cascade during the second quarter worth about $216,000. 95.80% of the stock is currently owned by institutional investors.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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 lumber, studs, and particleboards.
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