Boise Cascade, L.L.C. (BCC) Rating Lowered to Sell at Zacks Investment Research

Boise Cascade, L.L.C. (NYSE:BCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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. “

BCC has been the topic of several other research reports. BidaskClub downgraded shares of Boise Cascade, L.L.C. from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Bank of America Corporation downgraded shares of Boise Cascade, L.L.C. from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $36.00 in a research note on Monday, October 2nd. DA Davidson downgraded shares of Boise Cascade, L.L.C. from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Tuesday, October 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $33.00 target price on shares of Boise Cascade, L.L.C. in a research note on Thursday, July 20th. Finally, Sidoti initiated coverage on shares of Boise Cascade, L.L.C. in a research note on Friday, September 15th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.20.

Boise Cascade, L.L.C. (NYSE BCC) opened at 35.025 on Tuesday. Boise Cascade, L.L.C. has a 52-week low of $17.80 and a 52-week high of $35.80. The firm’s 50 day moving average is $32.24 and its 200 day moving average is $29.94. The company has a market cap of $1.35 billion, a PE ratio of 29.433 and a beta of 2.08.

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). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Boise Cascade, L.L.C. had a return on equity of 8.32% and a net margin of 1.13%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. Analysts forecast that Boise Cascade, L.L.C. will post $1.67 EPS for the current fiscal year.

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In related news, Director Thomas E. Carlile sold 17,552 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $31.75, for a total transaction of $557,276.00. Following the transaction, the director now owns 63,496 shares in the company, valued at $2,015,998. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kelly E. Hibbs sold 1,511 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $31.50, for a total transaction of $47,596.50. Following the transaction, the vice president now owns 25,868 shares in the company, valued at approximately $814,842. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,290 shares of company stock worth $741,616. 1.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in Boise Cascade, L.L.C. by 0.5% during the first quarter. Arizona State Retirement System now owns 20,021 shares of the construction company’s stock valued at $535,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its position in Boise Cascade, L.L.C. by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the construction company’s stock valued at $477,000 after purchasing an additional 100 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Boise Cascade, L.L.C. by 0.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 18,790 shares of the construction company’s stock valued at $501,000 after purchasing an additional 140 shares during the period. Public Employees Retirement System of Ohio lifted its position in Boise Cascade, L.L.C. by 2.8% during 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 purchasing an additional 212 shares during the period. Finally, Texas Permanent School Fund lifted its position in Boise Cascade, L.L.C. by 1.3% during the second quarter. Texas Permanent School Fund now owns 28,135 shares of the construction company’s stock valued at $855,000 after purchasing an additional 368 shares during the period. Institutional investors own 98.14% of the company’s stock.

About Boise Cascade, L.L.C.

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.

Analyst Recommendations for Boise Cascade, L.L.C. (NYSE:BCC)

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