Boise Cascade (BCC) Rating Lowered to Strong Sell at ValuEngine

Boise Cascade (NYSE:BCC) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

A number of other analysts have also recently issued reports on BCC. Zacks Investment Research cut Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Boise Cascade in a research report on Tuesday, July 17th. Bank of America cut their price objective on Boise Cascade from $49.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. Finally, Vertical Research raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Boise Cascade presently has a consensus rating of “Hold” and an average price target of $45.50.

BCC opened at $32.37 on Thursday. Boise Cascade has a 12-month low of $29.80 and a 12-month high of $49.30. The company has a market capitalization of $1.20 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.07 and a beta of 2.01. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.57.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 6th. The construction company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.19. Boise Cascade had a return on equity of 18.66% and a net margin of 2.64%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was up 23.6% on a year-over-year basis. As a group, equities research analysts anticipate that Boise Cascade will post 3.2 earnings per share for the current fiscal year.

In other news, EVP Daniel G. Hutchinson sold 13,671 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $43.79, for a total transaction of $598,653.09. Following the transaction, the executive vice president now owns 43,223 shares in the company, valued at $1,892,735.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Wayne M. Rancourt sold 9,872 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $44.85, for a total value of $442,759.20. Following the transaction, the chief financial officer now owns 86,421 shares in the company, valued at approximately $3,875,981.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,472 shares of company stock worth $1,567,444. 1.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Boise Cascade by 1.4% during the second quarter. Rhumbline Advisers now owns 93,484 shares of the construction company’s stock worth $4,179,000 after purchasing an additional 1,265 shares during the period. Victory Capital Management Inc. increased its stake in shares of Boise Cascade by 15.9% during the second quarter. Victory Capital Management Inc. now owns 9,472 shares of the construction company’s stock worth $423,000 after purchasing an additional 1,301 shares during the period. United Services Automobile Association increased its stake in shares of Boise Cascade by 18.7% during the second quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock worth $383,000 after purchasing an additional 1,346 shares during the period. LSV Asset Management increased its stake in shares of Boise Cascade by 1.2% during the second quarter. LSV Asset Management now owns 198,200 shares of the construction company’s stock worth $8,859,000 after purchasing an additional 2,400 shares during the period. Finally, Cypress Capital Management LLC WY increased its stake in shares of Boise Cascade by 7.1% during the third quarter. Cypress Capital Management LLC WY now owns 36,080 shares of the construction company’s stock worth $1,328,000 after purchasing an additional 2,400 shares during the period. Institutional investors own 92.20% of the company’s stock.

About Boise Cascade

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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