Zacks Investment Research downgraded shares of Boise Cascade (NYSE:BCC) from a hold rating to a sell rating in a research report report published on Thursday.
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 equities research analysts have also recently weighed in on BCC. Bank of America decreased their target price on Boise Cascade from $49.00 to $48.00 and set a neutral rating for the company in a research note on Tuesday, August 7th. BMO Capital Markets restated a hold rating and set a $41.00 target price on shares of Boise Cascade in a research note on Tuesday, July 17th. ValuEngine cut Boise Cascade from a hold rating to a sell rating in a research note on Wednesday, September 26th. Finally, Vertical Research upgraded Boise Cascade from a hold rating to a buy rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Boise Cascade presently has a consensus rating of Hold and a consensus target price of $45.50.
BCC stock traded up $0.32 during trading on Thursday, hitting $32.37. 502,058 shares of the company’s stock were exchanged, compared to its average volume of 505,659. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.13 and a beta of 2.01. Boise Cascade has a 52-week low of $29.80 and a 52-week high of $49.30. 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 posted its earnings results on Monday, August 6th. The construction company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.19. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Boise Cascade had a return on equity of 18.66% and a net margin of 2.64%. The firm’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Boise Cascade will post 3.2 EPS for the current year.
In other Boise Cascade news, SVP John T. Sahlberg sold 7,815 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $43.99, for a total value of $343,781.85. Following the completion of the sale, the senior vice president now owns 58,988 shares in the company, valued at $2,594,882.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Kelly E. Hibbs sold 4,114 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $44.30, for a total value of $182,250.20. Following the completion of the sale, the vice president now owns 34,101 shares of the company’s stock, valued at approximately $1,510,674.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,472 shares of company stock valued at $1,567,444. 1.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zacks Investment Management lifted its stake in Boise Cascade by 18.8% in the second quarter. Zacks Investment Management now owns 25,409 shares of the construction company’s stock valued at $1,136,000 after buying an additional 4,014 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Boise Cascade by 88.9% in the second quarter. Russell Investments Group Ltd. now owns 31,997 shares of the construction company’s stock valued at $1,416,000 after buying an additional 15,054 shares during the last quarter. Martingale Asset Management L P purchased a new stake in Boise Cascade in the second quarter valued at approximately $618,000. Sun Life Financial INC purchased a new stake in Boise Cascade in the second quarter valued at approximately $216,000. Finally, Principal Financial Group Inc. lifted its stake in Boise Cascade by 2.5% in the first quarter. Principal Financial Group Inc. now owns 303,951 shares of the construction company’s stock valued at $11,732,000 after buying an additional 7,480 shares during the last quarter. Institutional investors own 92.20% of the company’s stock.
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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