Boise Cascade, L.L.C. (BCC) Lowered to Neutral at Bank of America Corporation
Boise Cascade, L.L.C. (NYSE:BCC) was downgraded by Bank of America Corporation from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.
BCC has been the subject of several other research reports. Zacks Investment Research raised shares of Boise Cascade, L.L.C. from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub lowered shares of Boise Cascade, L.L.C. from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. BMO Capital Markets restated a “hold” rating and issued a $33.00 price objective on shares of Boise Cascade, L.L.C. in a research report on Thursday, July 20th. Finally, Sidoti assumed coverage on shares of Boise Cascade, L.L.C. in a research report on Friday, September 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.50.
Shares of Boise Cascade, L.L.C. (BCC) opened at 34.90 on Monday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 29.33 and a beta of 2.08. Boise Cascade, L.L.C. has a one year low of $17.80 and a one year high of $35.80. The firm’s 50-day moving average price is $30.04 and its 200-day moving average price is $29.16.
Boise Cascade, L.L.C. (NYSE:BCC) last issued its earnings results on Thursday, July 27th. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Boise Cascade, L.L.C. had a return on equity of 8.32% and a net margin of 1.13%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Boise Cascade, L.L.C. will post $1.64 earnings per share for the current year.
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In related news, VP Kelly E. Hibbs sold 1,511 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $31.50, for a total value of $47,596.50. Following the completion of the sale, the vice president now owns 25,868 shares of the company’s stock, valued at $814,842. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nick Stokes sold 4,227 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $32.35, for a total value of $136,743.45. Following the completion of the sale, the executive vice president now directly owns 63,753 shares of the company’s stock, valued at approximately $2,062,409.55. The disclosure for this sale can be found here. Insiders have sold 23,290 shares of company stock worth $741,616 over the last three months. Insiders own 1.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its holdings in Boise Cascade, L.L.C. by 2.8% in the second quarter. Public Employees Retirement System of Ohio now owns 7,655 shares of the construction company’s stock valued at $233,000 after acquiring an additional 212 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Boise Cascade, L.L.C. during the 2nd quarter valued at $253,000. Argent Capital Management LLC bought a new position in Boise Cascade, L.L.C. in the 2nd quarter worth $1,306,000. Arrowstreet Capital Limited Partnership bought a new position in Boise Cascade, L.L.C. in the 2nd quarter worth $234,000. Finally, State Street Corp raised its holdings in Boise Cascade, L.L.C. by 4.0% in the 2nd quarter. State Street Corp now owns 909,705 shares of the construction company’s stock worth $27,654,000 after purchasing an additional 34,986 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.
Boise Cascade, L.L.C. Company Profile
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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