Boise Cascade (NYSE:BCC) Stock Rating Lowered by Zacks Research

Boise Cascade (NYSE:BCC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on BCC. The Goldman Sachs Group raised their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Bank of America boosted their target price on shares of Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. DA Davidson increased their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $93.60.

Boise Cascade Stock Down 2.2%

Shares of NYSE:BCC opened at $80.17 on Monday. The company has a market capitalization of $2.80 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. The business has a fifty day moving average price of $77.39 and a two-hundred day moving average price of $76.92. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.40. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.64 EPS. Analysts forecast that Boise Cascade will post 3.86 earnings per share for the current year.

Insider Transactions at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the sale, the director directly owned 13,982 shares of the company’s stock, valued at $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently modified their holdings of BCC. Royal Bank of Canada grew its stake in Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock valued at $3,404,000 after buying an additional 1,332 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Boise Cascade by 8.8% during the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after acquiring an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock worth $404,000 after acquiring an additional 3,883 shares during the period. United Services Automobile Association bought a new position in shares of Boise Cascade in the first quarter worth $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Boise Cascade by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock valued at $19,974,000 after purchasing an additional 3,978 shares in the last quarter. Hedge funds and other 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.