Loop Capital Cuts Boise Cascade (NYSE:BCC) Price Target to $135.00

Boise Cascade (NYSE:BCC) had its price target cut by stock analysts at Loop Capital from $140.00 to $135.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s price target indicates a potential upside of 42.39% from the stock’s previous close.

BCC has been the topic of several other reports. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial decreased their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets cut their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. Finally, DA Davidson lowered their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and an average price target of $127.67.

Boise Cascade Trading Down 0.9 %

Shares of BCC traded down $0.85 during trading hours on Monday, reaching $94.81. 218,777 shares of the company traded hands, compared to its average volume of 330,869. The stock’s fifty day moving average price is $104.66 and its 200 day moving average price is $123.94. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 9.92 and a beta of 1.52. Boise Cascade has a 12-month low of $87.84 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Sell-side analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently made changes to their positions in BCC. Norges Bank purchased a new position in Boise Cascade in the 4th quarter worth $55,680,000. First Trust Advisors LP increased its holdings in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after purchasing an additional 195,773 shares during the period. GAMMA Investing LLC raised its stake in shares of Boise Cascade by 15,650.6% in the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company’s stock worth $14,028,000 after purchasing an additional 142,107 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares during the period. Finally, Tidal Investments LLC boosted its position in Boise Cascade by 534.5% in the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after buying an additional 84,487 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.