Boise Cascade (NYSE:BCC) Price Target Raised to $94.00 at The Goldman Sachs Group

Boise Cascade (NYSE:BCC) had its target price boosted by equities research analysts at The Goldman Sachs Group from $85.00 to $94.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 12.85% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. DA Davidson restated a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a research report on Tuesday. Truist Financial upped their price objective on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Boise Cascade Price Performance

Shares of NYSE BCC traded down $3.37 during midday trading on Wednesday, reaching $83.29. The stock had a trading volume of 163,683 shares, compared to its average volume of 404,234. 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 stock has a 50-day moving average of $81.66 and a 200-day moving average of $78.87. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 23.67 and a beta of 1.27. Boise Cascade has a 12-month low of $65.14 and a 12-month high of $106.67.

Institutional Investors Weigh In On Boise Cascade

Institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new position in shares of Boise Cascade in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Boise Cascade by 231.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares in the last quarter. Huntington National Bank grew its stake in Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock worth $38,000 after buying an additional 378 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after buying an additional 450 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Company Profile

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.