Boise Cascade (NYSE:BCC) Price Target Raised to $91.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Boise Cascade’s price target from $81 to $91 while maintaining a “neutral” rating, implying approximately 7.2% upside from the reported share price.
• Boise Cascade reported quarterly EPS of $1.63, beating the $1.23 consensus estimate, while revenue reached $1.83 billion and increased 5.2% year over year.
• Shares fell 1.8% to $84.89, and analyst sentiment remained mixed: MarketBeat reported an average “Hold” rating and an average price target of $92.20.

Boise Cascade (NYSE:BCC - Get Free Report) had its price objective lifted by investment analysts at The Goldman Sachs Group from $81.00 to $91.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. The Goldman Sachs Group's price target suggests a potential upside of 7.19% from the company's current price.

Several other equities research analysts have also recently commented on BCC. Weiss Ratings cut shares of Boise Cascade from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. DA Davidson decreased their target price on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Bank of America raised their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a research report on Tuesday, July 14th. Truist Financial set a $97.00 price target on Boise Cascade in a research report on Wednesday, May 6th. Finally, Zacks Research raised shares of Boise Cascade from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boise Cascade has an average rating of "Hold" and an average target price of $92.20.

Boise Cascade Stock Down 1.8%

Shares of NYSE:BCC traded down $1.60 during mid-day trading on Wednesday, hitting $84.89. 148,301 shares of the company traded hands, compared to its average volume of 430,590. The stock has a market cap of $2.99 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.15 and a beta of 1.10. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $74.45 and a two-hundred day moving average price of $76.93. Boise Cascade has a 12-month low of $65.00 and a 12-month high of $91.97.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.40. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.37% and a net margin of 1.64%.The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. On average, equities research analysts forecast that Boise Cascade will post 3.83 earnings per share for the current year.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total value of $403,351.50. Following the transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BCC. Caitong International Asset Management Co. Ltd increased its position in shares of Boise Cascade by 231.2% during 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 during the last quarter. Fifth Third Bancorp increased its holdings in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after buying an additional 179 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Boise Cascade during the 3rd quarter worth $38,000. UMB Bank n.a. grew its position in shares of Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock valued at $39,000 after acquiring an additional 260 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Boise Cascade by 5,866.7% in the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company's stock worth $40,000 after purchasing an additional 528 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

About Boise Cascade

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.

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