Boise Cascade (NYSE:BCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm currently has a $31.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.56% from the company’s current price.
According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
Separately, Goldman Sachs Group downgraded shares of Metcash from a “conviction-buy” rating to a “neutral” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $36.40.
Shares of NYSE:BCC traded down $0.25 during trading on Tuesday, reaching $27.06. 5,139 shares of the company were exchanged, compared to its average volume of 309,089. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.42 and a beta of 2.10. The business’s fifty day simple moving average is $25.22. Boise Cascade has a 12-month low of $22.00 and a 12-month high of $47.15. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 0.77.
Boise Cascade (NYSE:BCC) last issued its earnings results on Tuesday, May 7th. The construction company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Boise Cascade had a negative net margin of 0.11% and a positive return on equity of 11.49%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.94 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Boise Cascade will post 1.82 EPS for the current fiscal year.
In other news, Director Kristopher J. Matula bought 3,500 shares of the stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $23.12 per share, for a total transaction of $80,920.00. Following the completion of the purchase, the director now directly owns 14,049 shares in the company, valued at $324,812.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cable Hill Partners LLC acquired a new stake in shares of Boise Cascade during the first quarter worth $27,000. Royce & Associates LP lifted its stake in shares of Boise Cascade by 56.3% during the fourth quarter. Royce & Associates LP now owns 1,455 shares of the construction company’s stock worth $35,000 after buying an additional 524 shares during the period. FMR LLC lifted its stake in shares of Boise Cascade by 436.4% during the first quarter. FMR LLC now owns 3,331 shares of the construction company’s stock worth $89,000 after buying an additional 2,710 shares during the period. Investors Research Corp acquired a new stake in shares of Boise Cascade during the first quarter worth $120,000. Finally, 6 Meridian acquired a new stake in shares of Boise Cascade during the first quarter worth $213,000. Institutional investors own 90.82% of the company’s stock.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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