Boise Cascade (NYSE:BCC) Stock Rating Upgraded by StockNews.com

Boise Cascade (NYSE:BCC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts have also recently commented on the company. The Goldman Sachs Group increased their target price on Boise Cascade from $114.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Truist Financial increased their price objective on shares of Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $133.23 on Tuesday. The stock has a market capitalization of $5.27 billion, a P/E ratio of 10.83 and a beta of 1.64. The company has a current ratio of 3.46, a quick ratio of 2.26 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $140.31 and its 200 day moving average price is $128.08. Boise Cascade has a twelve month low of $71.50 and a twelve month high of $154.67.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.31. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business earned $2.43 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Boise Cascade will post 11.44 earnings per share for the current year.

Insider Activity

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the completion of the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by company insiders.

Institutional Trading of Boise Cascade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCC. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Boise Cascade in the 3rd quarter valued at approximately $239,000. Robeco Institutional Asset Management B.V. increased its position in shares of Boise Cascade by 19.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,466 shares of the construction company’s stock worth $2,006,000 after purchasing an additional 3,143 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Boise Cascade by 23.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,241 shares of the construction company’s stock valued at $952,000 after purchasing an additional 1,772 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Boise Cascade by 132.6% in the third quarter. Mackenzie Financial Corp now owns 6,828 shares of the construction company’s stock valued at $673,000 after acquiring an additional 3,893 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Boise Cascade by 14.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,696 shares of the construction company’s stock valued at $2,029,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

About Boise Cascade

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.