DA Davidson Reiterates Buy Rating for Boise Cascade (NYSE:BCC)

Boise Cascade (NYSE:BCC)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $95.00 price objective on the construction company’s stock. DA Davidson’s price objective indicates a potential upside of 9.26% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Truist Financial boosted their price target on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.83.

Boise Cascade Stock Up 8.0%

BCC stock traded up $6.41 during trading on Tuesday, reaching $86.95. 302,170 shares of the company traded hands, compared to its average volume of 391,766. Boise Cascade has a 12 month low of $65.14 and a 12 month high of $108.43. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 17.13 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. The business has a 50 day simple moving average of $81.45 and a 200 day simple moving average of $78.84.

Institutional Investors Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after purchasing an additional 539,962 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Boise Cascade by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company’s stock valued at $176,313,000 after buying an additional 58,131 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Boise Cascade by 9.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after buying an additional 145,721 shares during the period. State Street Corp lifted its position in shares of Boise Cascade by 0.3% during the 4th quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock valued at $108,344,000 after buying an additional 3,817 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock valued at $111,254,000 after acquiring an additional 55,052 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.