Bank of America Issues Positive Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price target lifted by equities researchers at Bank of America from $80.00 to $81.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the construction company’s stock. Bank of America‘s target price indicates a potential upside of 11.27% from the stock’s previous close.

BCC has been the subject of a number of other research reports. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Truist Financial set a $97.00 target price on shares of Boise Cascade in a research note on Wednesday, May 6th. DA Davidson lowered their price target on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, Zacks Research raised shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.80.

Boise Cascade Trading Down 2.6%

Shares of NYSE BCC traded down $1.92 during midday trading on Tuesday, reaching $72.80. The company had a trading volume of 292,477 shares, compared to its average volume of 426,329. Boise Cascade has a one year low of $65.00 and a one year high of $91.97. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $71.49 and its 200-day moving average price is $76.83. The stock has a market cap of $2.56 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $1.06 EPS. Boise Cascade’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Boise Cascade will post 3.67 earnings per share for the current year.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the sale, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Boise Cascade by 231.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares during the last quarter. Fifth Third Bancorp grew its position in Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after purchasing an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new stake in Boise Cascade during the 3rd quarter valued at about $38,000. UMB Bank n.a. increased its stake in Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Boise Cascade by 5,866.7% in the fourth quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock worth $40,000 after buying an additional 528 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

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.