Truist Financial Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its target price dropped by investment analysts at Truist Financial from $161.00 to $157.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would suggest a potential upside of 32.81% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Loop Capital started coverage on Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America increased their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Finally, BMO Capital Markets lifted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.80.

Boise Cascade Trading Down 1.7 %

BCC opened at $118.21 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The company has a market cap of $4.54 billion, a P/E ratio of 11.57 and a beta of 1.58. The business’s 50-day simple moving average is $135.42 and its 200-day simple moving average is $133.04.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.58 EPS. As a group, equities research analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Institutional Trading of Boise Cascade

Several hedge funds have recently made changes to their positions in BCC. Oliver Luxxe Assets LLC lifted its position in Boise Cascade by 5.4% in the fourth quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company’s stock valued at $4,882,000 after purchasing an additional 2,097 shares during the period. Nordea Investment Management AB grew its holdings in Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after acquiring an additional 5,779 shares during the period. Franklin Resources Inc. raised its position in Boise Cascade by 0.8% in the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after acquiring an additional 335 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after purchasing an additional 12,231 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in Boise Cascade in the third quarter valued at about $3,995,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through 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 shop lumber and appearance grade boards.