Boise Cascade's (BCC) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Boise Cascade's stock rating has been reaffirmed as "hold (C-)" by Weiss Ratings, indicating a neutral stance from researchers.
• Recent adjustments to price targets from various analysts have generally lowered expectations for the stock, with ratings ranging from "buy" to "neutral" and a consensus price target of $102.50.
• Boise Cascade's stock saw a 1.6% increase, closing at $73.13, amidst lower quarterly earnings than expected, and a revenue decline of 3.2% compared to the previous year.

Boise Cascade (NYSE:BCC - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other equities research analysts have also recently commented on BCC. DA Davidson dropped their price target on shares of Boise Cascade from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday. Truist Financial dropped their price target on Boise Cascade from $101.00 to $96.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. The Goldman Sachs Group dropped their price target 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. Bank of America dropped their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $100.00 price target on shares of Boise Cascade in a research note on Tuesday, September 16th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.50.

Boise Cascade Stock Up 1.6%

Shares of BCC stock traded up $1.16 during mid-day trading on Friday, reaching $73.13. 394,325 shares of the company were exchanged, compared to its average volume of 356,885. Boise Cascade has a fifty-two week low of $70.00 and a fifty-two week high of $155.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. The company has a market capitalization of $2.73 billion, a P/E ratio of 10.74, a P/E/G ratio of 5.42 and a beta of 1.27. The business's 50 day simple moving average is $80.70 and its 200 day simple moving average is $86.22.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business earned $2.84 earnings per share. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts predict that Boise Cascade will post 10.15 earnings per share for the current year.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the transaction, the senior vice president owned 32,867 shares of the company's stock, valued at $2,759,841.99. The trade was a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Troy Little sold 2,033 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the sale, the executive vice president directly owned 12,701 shares of the company's stock, valued at approximately $1,055,453.10. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,815 shares of company stock valued at $409,637 in the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Boise Cascade by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company's stock valued at $433,807,000 after buying an additional 70,231 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Boise Cascade by 1.4% in 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 holdings in Boise Cascade by 9.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company's stock worth $142,821,000 after purchasing an additional 145,721 shares during the last quarter. American Century Companies Inc. lifted its holdings in Boise Cascade by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company's stock worth $111,254,000 after purchasing an additional 55,052 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Boise Cascade by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 947,477 shares of the construction company's stock worth $82,267,000 after purchasing an additional 7,618 shares during the last quarter. 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.

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