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

Boise Cascade (NYSE:BCC - Get Free Report) had its price objective lowered by DA Davidson from $115.00 to $100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. DA Davidson's price objective would indicate a potential upside of 17.32% from the stock's previous close.

Several other analysts also recently weighed in on the stock. Loop Capital dropped their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. Bank of America dropped their target price on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Finally, Truist Financial dropped their target price on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.00.

Boise Cascade Trading Down 1.7%

Shares of NYSE BCC traded down $1.49 during midday trading on Friday, reaching $85.24. 94,768 shares of the stock were exchanged, compared to its average volume of 325,055. The company has a 50 day simple moving average of $88.70 and a 200 day simple moving average of $101.05. The stock has a market capitalization of $3.21 billion, a P/E ratio of 10.60, a PEG ratio of 3.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. Boise Cascade has a twelve month low of $83.60 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.61 EPS. As a group, equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Insider Activity at Boise Cascade

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the completion of the transaction, the executive vice president owned 12,372 shares of the company's stock, valued at $1,084,776.96. This trade represents a 7.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jill Twedt sold 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the completion of the transaction, the senior vice president directly owned 34,649 shares of the company's stock, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Boise Cascade by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company's stock worth $433,807,000 after purchasing an additional 70,231 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Boise Cascade by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 2,629,978 shares of the construction company's stock worth $257,975,000 after purchasing an additional 35,639 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Boise Cascade by 25.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company's stock worth $147,067,000 after purchasing an additional 306,684 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Boise Cascade by 8.1% during the 1st quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company's stock worth $120,296,000 after purchasing an additional 92,019 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after purchasing an additional 195,773 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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.

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