Boise Cascade Co (NYSE:BCC) shares hit a new 52-week low during trading on Friday . The stock traded as low as $31.70 and last traded at $32.10, with a volume of 6041 shares. The stock had previously closed at $32.05.
Several research analysts have recently commented on BCC shares. Vertical Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BMO Capital Markets reiterated a “hold” rating and issued a $41.00 target price on shares of Boise Cascade in a research note on Tuesday, July 17th. Finally, Bank of America lowered their target price on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $45.50.
The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 2.25. The company has a market cap of $1.28 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.88.
Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.19. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business posted $0.57 EPS. Boise Cascade’s revenue was up 23.6% compared to the same quarter last year. Equities research analysts expect that Boise Cascade Co will post 3.28 EPS for the current year.
In related news, CFO Wayne M. Rancourt sold 9,872 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $44.85, for a total value of $442,759.20. Following the transaction, the chief financial officer now directly owns 86,421 shares in the company, valued at approximately $3,875,981.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kelly E. Hibbs sold 4,114 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $44.30, for a total transaction of $182,250.20. Following the completion of the transaction, the vice president now owns 34,101 shares in the company, valued at $1,510,674.30. The disclosure for this sale can be found here. Insiders sold a total of 35,472 shares of company stock worth $1,567,444 over the last quarter. 1.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Boise Cascade by 10.3% in the 2nd quarter. BlackRock Inc. now owns 5,648,484 shares of the construction company’s stock valued at $252,488,000 after purchasing an additional 528,529 shares during the period. Acadian Asset Management LLC boosted its holdings in Boise Cascade by 52.6% in the 2nd quarter. Acadian Asset Management LLC now owns 774,562 shares of the construction company’s stock valued at $34,622,000 after purchasing an additional 266,849 shares during the period. Northern Trust Corp boosted its holdings in Boise Cascade by 20.2% in the 2nd quarter. Northern Trust Corp now owns 980,253 shares of the construction company’s stock valued at $43,818,000 after purchasing an additional 164,841 shares during the period. Wells Fargo & Company MN boosted its holdings in Boise Cascade by 88.9% in the 2nd quarter. Wells Fargo & Company MN now owns 308,151 shares of the construction company’s stock valued at $13,773,000 after purchasing an additional 145,060 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in Boise Cascade by 11.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,310,363 shares of the construction company’s stock valued at $58,574,000 after purchasing an additional 137,342 shares during the period. Institutional investors and hedge funds own 94.11% of the company’s stock.
About Boise Cascade (NYSE:BCC)
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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