ValuEngine upgraded shares of Boise Cascade (NYSE:BCC) from a hold rating to a buy rating in a research report report published on Wednesday, ValuEngine reports.
BCC has been the subject of several other reports. Zacks Investment Research raised Boise Cascade from a hold rating to a strong-buy rating and set a $34.00 target price for the company in a research report on Thursday, August 8th. Goldman Sachs Group raised Boise Cascade from a neutral rating to a buy rating and set a $34.00 target price for the company in a research report on Monday, June 24th. Finally, Bank of America downgraded Boise Cascade from a neutral rating to an underperform rating and set a $22.00 target price for the company. in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Boise Cascade has a consensus rating of Buy and an average price target of $31.80.
NYSE BCC opened at $34.73 on Wednesday. The company has a market cap of $1.33 billion, a P/E ratio of 23.11, a P/E/G ratio of 2.20 and a beta of 2.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.53 and a quick ratio of 1.29. The stock has a 50-day moving average of $31.59 and a two-hundred day moving average of $28.02. Boise Cascade has a 1-year low of $22.00 and a 1-year high of $35.29.
Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 5th. The construction company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.21. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. Boise Cascade had a positive return on equity of 8.46% and a negative net margin of 0.41%. Boise Cascade’s revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. On average, analysts anticipate that Boise Cascade will post 1.97 EPS for the current fiscal year.
In other news, EVP Dean Michael Brown sold 3,947 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $29.91, for a total transaction of $118,054.77. Following the completion of the transaction, the executive vice president now directly owns 29,196 shares of the company’s stock, valued at $873,252.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in BCC. Versant Capital Management Inc lifted its stake in Boise Cascade by 183.5% during the third quarter. Versant Capital Management Inc now owns 788 shares of the construction company’s stock worth $25,000 after purchasing an additional 510 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Boise Cascade by 680.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the construction company’s stock valued at $44,000 after buying an additional 1,360 shares during the last quarter. FMR LLC lifted its stake in Boise Cascade by 436.4% in the first quarter. FMR LLC now owns 3,331 shares of the construction company’s stock valued at $89,000 after buying an additional 2,710 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Boise Cascade in the second quarter valued at approximately $115,000. Finally, Commonwealth Bank of Australia lifted its stake in Boise Cascade by 81.0% in the second quarter. Commonwealth Bank of Australia now owns 10,500 shares of the construction company’s stock valued at $295,000 after buying an additional 4,700 shares during the last quarter. 91.33% of the stock is owned by institutional investors and hedge funds.
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; and structural, appearance, and industrial plywood panels.
Recommended Story: Trading Ex-Dividend Strategy
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Boise Cascade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boise Cascade and related companies with MarketBeat.com's FREE daily email newsletter.