BMO Capital Markets Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price target cut by BMO Capital Markets from $136.00 to $122.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 17.27% from the company’s previous close.

A number of other brokerages have also recently commented on BCC. 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 research note on Monday. The Goldman Sachs Group decreased their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Loop Capital decreased their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Stock Down 2.3 %

Shares of Boise Cascade stock opened at $104.03 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12 month low of $102.27 and a 12 month high of $155.42. The business has a fifty day simple moving average of $121.52 and a 200 day simple moving average of $131.84. The stock has a market cap of $3.95 billion, a PE ratio of 10.88 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Insider Transactions at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.05% of the stock is owned by insiders.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently bought and sold shares of BCC. Norges Bank bought a new stake in Boise Cascade during the fourth quarter worth about $55,680,000. First Trust Advisors LP raised its holdings in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after acquiring an additional 195,773 shares in the last quarter. American Century Companies Inc. raised its holdings in 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 acquiring an additional 121,790 shares in the last quarter. Bank of Montreal Can raised its holdings in Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after acquiring an additional 119,103 shares in the last quarter. Finally, Tidal Investments LLC raised its stake 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 period. 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.