Loop Capital Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC - Get Free Report) had its price objective reduced by Loop Capital from $140.00 to $135.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Loop Capital's price objective suggests a potential upside of 44.59% from the company's previous close.

BCC has been the topic of a number of other reports. The Goldman Sachs Group lowered their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets decreased their price target on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 25th. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Truist Financial dropped their target price on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a report on Monday, February 24th. Finally, Benchmark reissued a "hold" rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Boise Cascade currently has a consensus rating of "Hold" and an average target price of $127.67.

Boise Cascade Stock Performance

Shares of BCC stock traded up $0.68 during mid-day trading on Monday, hitting $93.37. The stock had a trading volume of 205,893 shares, compared to its average volume of 328,724. The firm has a market cap of $3.55 billion, a PE ratio of 9.77 and a beta of 1.52. The company's 50-day simple moving average is $101.64 and its 200-day simple moving average is $122.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a fifty-two week low of $87.84 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Insider Buying and Selling

In other Boise Cascade news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Westwood Holdings Group Inc. raised its stake in shares of Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company's stock valued at $141,755,000 after acquiring an additional 45,010 shares during the period. American Century Companies Inc. lifted its stake in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Boise Cascade by 37.9% in the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after buying an additional 195,773 shares during the period. Northern Trust Corp raised its holdings in shares of Boise Cascade by 17.8% during the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company's stock valued at $57,429,000 after buying an additional 73,061 shares during the period. Finally, Norges Bank acquired a new position in Boise Cascade during the 4th quarter worth approximately $55,680,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

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.