Boise Cascade (NYSE:BCC) Upgraded to Buy at StockNews.com

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

A number of other equities research analysts have also issued reports on the company. Truist Financial upped their price target on Boise Cascade from $156.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their target price on shares of Boise Cascade from $114.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Boise Cascade has an average rating of “Hold” and an average target price of $125.00.

Boise Cascade Price Performance

NYSE BCC traded down $8.70 during mid-day trading on Tuesday, hitting $130.67. The stock had a trading volume of 698,889 shares, compared to its average volume of 301,591. Boise Cascade has a twelve month low of $70.66 and a twelve month high of $154.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26. The firm’s 50 day moving average is $140.32 and its 200 day moving average is $128.04. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 10.78 and a beta of 1.64.

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

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $139.09, for a total transaction 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 $5,596,564.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Boise Cascade in the 4th quarter valued at about $60,383,000. Wellington Management Group LLP lifted its holdings in Boise Cascade by 45.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock worth $139,018,000 after buying an additional 418,891 shares in the last quarter. Pacer Advisors Inc. boosted its position in Boise Cascade by 59.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock valued at $141,906,000 after buying an additional 409,906 shares during the period. Acadian Asset Management LLC grew its stake in shares of Boise Cascade by 13.8% in the third quarter. Acadian Asset Management LLC now owns 1,473,620 shares of the construction company’s stock worth $151,820,000 after acquiring an additional 178,439 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Boise Cascade by 55.0% in the fourth quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock worth $57,702,000 after acquiring an additional 158,363 shares in 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.