Boise Cascade (NYSE:BCC) Stock Rating Lowered by Wall Street Zen

Boise Cascade (NYSE:BCC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities analysts have also weighed in on BCC. BMO Capital Markets reiterated a “market perform” rating and issued a $100.00 price objective on shares of Boise Cascade in a research report on Tuesday, September 16th. Truist Financial lowered their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. DA Davidson lowered their price objective on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Boise Cascade in a research report on Friday. Finally, The Goldman Sachs Group reduced their target price on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Boise Cascade Stock Performance

NYSE:BCC opened at $73.13 on Friday. The firm’s fifty day moving average price is $80.43 and its 200 day moving average price is $85.99. Boise Cascade has a 1-year low of $70.00 and a 1-year high of $155.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 5.58 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.05). Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $2.84 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Insider Buying and Selling at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the transaction, the chief operating officer owned 37,026 shares of the company’s stock, valued at $3,371,587.56. The trade was a 2.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Troy Little sold 2,033 shares of Boise Cascade stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the transaction, the executive vice president directly owned 12,701 shares of the company’s stock, valued at $1,055,453.10. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,815 shares of company stock valued at $409,637. 1.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cerity Partners LLC raised its stake in shares of Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after buying an additional 121 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Boise Cascade by 1.0% during the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock worth $1,148,000 after buying an additional 126 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Boise Cascade by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 6,860 shares of the construction company’s stock worth $596,000 after buying an additional 152 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Boise Cascade by 5.7% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,800 shares of the construction company’s stock worth $243,000 after buying an additional 152 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Boise Cascade by 30.6% during the 3rd quarter. CWM LLC now owns 747 shares of the construction company’s stock worth $58,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through 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; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.