DA Davidson Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC - Get Free Report) had its price target lowered by equities researchers at DA Davidson from $115.00 to $100.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. DA Davidson's price target would suggest a potential upside of 17.98% from the company's current price.

Other equities research analysts have also issued reports about the company. Bank of America reduced their target price on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Truist Financial lowered their target price on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Finally, Loop Capital lowered their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $116.00.

Boise Cascade Trading Up 1.0%

Shares of NYSE:BCC traded up $0.87 during mid-day trading on Friday, hitting $84.76. The stock had a trading volume of 70,585 shares, compared to its average volume of 325,977. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. The company has a market cap of $3.19 billion, a PE ratio of 10.58, a P/E/G ratio of 3.88 and a beta of 1.34. Boise Cascade has a 12-month low of $83.46 and a 12-month high of $155.42. The company's 50 day moving average is $88.61 and its 200-day moving average is $100.57.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm earned $2.61 EPS. The company's revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Insider Buying and Selling at Boise Cascade

In related news, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction 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 approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of the firm's stock in a transaction 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 approximately $3,049,458.49. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after purchasing an additional 444 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after acquiring an additional 550 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Boise Cascade by 50.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock valued at $2,325,000 after acquiring an additional 7,983 shares during the period. HighTower Advisors LLC grew its position in shares of Boise Cascade by 139.1% in the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company's stock valued at $536,000 after acquiring an additional 2,622 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of Boise Cascade in the 4th quarter valued at about $728,000. Institutional investors 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.