Truist Financial Has Lowered Expectations for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its target price reduced by research analysts at Truist Financial from $97.00 to $86.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial‘s target price would suggest a potential upside of 11.57% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Saturday. Loop Capital lowered shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 price objective on the stock. in a research note on Monday, October 26th. The Goldman Sachs Group upped their target price on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Zacks Research downgraded shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, DA Davidson set a $99.00 price target on Boise Cascade in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $90.17.

Boise Cascade Stock Up 3.0%

BCC traded up $2.27 on Wednesday, hitting $77.08. 57,169 shares of the company were exchanged, compared to its average volume of 400,810. Boise Cascade has a 12 month low of $65.00 and a 12 month high of $91.97. The company has a market cap of $2.69 billion, a PE ratio of 22.65, a PEG ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The stock’s fifty day moving average is $76.16 and its 200-day moving average is $77.19.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, November 2nd. The construction company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Boise Cascade had a net margin of 1.83% and a return on equity of 6.20%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company posted $0.58 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts predict that Boise Cascade will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,250 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the sale, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BCC. Ethic Inc. raised its holdings in Boise Cascade by 136.9% in the 3rd quarter. Ethic Inc. now owns 8,527 shares of the construction company’s stock valued at $632,000 after acquiring an additional 4,928 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Boise Cascade by 83.0% during the third quarter. Parallel Advisors LLC now owns 2,130 shares of the construction company’s stock worth $158,000 after acquiring an additional 966 shares during the period. Covestor Ltd boosted its holdings in shares of Boise Cascade by 162.5% during the third quarter. Covestor Ltd now owns 504 shares of the construction company’s stock worth $38,000 after acquiring an additional 312 shares during the period. Bridge City Capital LLC boosted its holdings in shares of Boise Cascade by 21.3% during the third quarter. Bridge City Capital LLC now owns 21,028 shares of the construction company’s stock worth $1,559,000 after acquiring an additional 3,687 shares during the period. Finally, Vise Technologies Inc. grew its position in shares of Boise Cascade by 52.1% in the third quarter. Vise Technologies Inc. now owns 4,083 shares of the construction company’s stock valued at $303,000 after purchasing an additional 1,399 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade News Roundup

Here are the key news stories impacting Boise Cascade this week:

• Positive Sentiment: Q3 sales reached $1.8 billion, topping estimates of $1.76 billion and rising 8.1% year over year. Net income also increased to $36.4 million from $21.8 million a year earlier. Read More.
• Neutral Sentiment: Truist lowered its price target to $86 from $97 but kept its Buy rating, signaling a more cautious valuation view while remaining positive on the shares. Read More.
• Negative Sentiment: Q3 EPS of $1.04 fell short of the $1.12 consensus. Analysts also cite soft housing demand and weak construction activity, which limit the recovery despite improved margins and support from plywood pricing. Read More.
• Negative Sentiment: The transition to a James Hardie/AZEK distribution arrangement replaces lost Trex business, but requires inventory investment and could bring execution risk as contractor relationships shift. Read More.

Boise Cascade Company Profile

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.