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

Key Points

• Boise Cascade has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, reflecting decreased confidence in the stock.
• Goldman Sachs lowered their price target for Boise Cascade from $96.00 to $82.00 while maintaining a "neutral" rating.
• Boise Cascade reported earnings of $1.64 per share, missing expectations and a revenue decline of 3.2% year-over-year.

Boise Cascade (NYSE:BCC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price objective on Boise Cascade from $96.00 to $82.00 and set a "neutral" rating on the stock in a research note on Monday, October 13th. DA Davidson dropped their price target on Boise Cascade from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday. Bank of America decreased their price objective 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. Weiss Ratings reiterated a "hold (c-)" rating on shares of Boise Cascade in a research note on Friday. Finally, Truist Financial reduced their price target 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. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.50.

Boise Cascade Trading Up 1.6%

BCC opened at $73.13 on Friday. Boise Cascade has a 12-month low of $70.00 and a 12-month 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 stock has a market capitalization of $2.73 billion, a PE ratio of 10.74, a P/E/G ratio of 5.50 and a beta of 1.27. The firm's fifty day moving average price is $80.43 and its 200 day moving average price is $86.11.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.05). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.Boise Cascade's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. As a group, research analysts expect that Boise Cascade will post 10.15 EPS for the current fiscal year.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 1,782 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the sale, the senior vice president directly owned 32,867 shares in the company, valued at $2,759,841.99. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $91.06, for a total value of $91,060.00. Following the sale, the chief operating officer directly owned 37,026 shares in the company, valued at $3,371,587.56. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,815 shares of company stock worth $409,637. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently bought and sold shares of BCC. Salomon & Ludwin LLC bought a new stake in shares of Boise Cascade during the 3rd quarter worth about $28,000. Huntington National Bank raised its holdings in Boise Cascade by 630.0% during the second quarter. Huntington National Bank now owns 438 shares of the construction company's stock worth $38,000 after purchasing an additional 378 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Boise Cascade by 120.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock worth $40,000 after purchasing an additional 222 shares in the last quarter. RMG Wealth Management LLC bought a new position in Boise Cascade during the 2nd quarter valued at $42,000. Finally, CWM LLC increased its position in shares of Boise Cascade by 30.6% during the 3rd quarter. CWM LLC now owns 747 shares of the construction company's stock valued at $58,000 after purchasing an additional 175 shares during the period. 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.

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