Boise Cascade (NYSE:BCC) Price Target Cut to $100.00 by Analysts at Truist Financial

Boise Cascade (NYSE:BCC) had its target price decreased by stock analysts at Truist Financial from $103.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 24.82% from the company’s previous close.

A number of other analysts have also recently weighed in on BCC. BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 30th. DA Davidson reaffirmed a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a research report on Tuesday, February 24th. The Goldman Sachs Group upped their price target on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.20.

Boise Cascade Stock Down 1.8%

Shares of Boise Cascade stock opened at $80.11 on Wednesday. The company has a fifty day moving average price of $79.04 and a 200 day moving average price of $76.61. The company has a current ratio of 3.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.22. Boise Cascade has a twelve month low of $65.14 and a twelve month high of $98.20. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Hedge Funds Weigh In On Boise Cascade

A number of institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $29,000 after purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp raised its stake 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 valued at $30,000 after purchasing an additional 179 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Boise Cascade by 1,071.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after purchasing an additional 450 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Boise Cascade in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds 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.