The Goldman Sachs Group Cuts Boise Cascade (NYSE:BCC) Price Target to $82.00

Key Points

• The Goldman Sachs Group has cut its price target for Boise Cascade from $96.00 to $82.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 13.06% based on current prices.
• Other analysts have also revised their price targets for Boise Cascade, with discrepancies ranging from $100.00 to $107.00, indicating mixed sentiment among financial experts.
• Boise Cascade reported a drop in quarterly revenue to $1.74 billion, falling short of estimates, and the stock has recently been trading around $72.53 with a market capitalization of $2.71 billion.

Boise Cascade (NYSE:BCC - Get Free Report) had its price target reduced by equities researchers at The Goldman Sachs Group from $96.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the construction company's stock. The Goldman Sachs Group's target price indicates a potential upside of 13.06% from the stock's current price.

Several other research analysts have also issued reports on the company. Truist Financial decreased their target price on Boise Cascade from $101.00 to $96.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. DA Davidson decreased their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 18th. BMO Capital Markets reissued a "market perform" rating and set a $100.00 price target on shares of Boise Cascade in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Boise Cascade in a research note on Wednesday, October 8th. Finally, Bank of America lowered their target price 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. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.33.

Boise Cascade Trading Up 0.3%

BCC traded up $0.21 during midday trading on Monday, reaching $72.53. 130,721 shares of the company's stock traded hands, compared to its average volume of 355,377. The firm has a fifty day moving average of $82.91 and a two-hundred day moving average of $87.65. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 5.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. Boise Cascade has a 52 week low of $71.61 and a 52 week high of $155.42.

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

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,782 shares of the firm's 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 sale, the senior vice president directly owned 32,867 shares of the company's stock, valued at $2,759,841.99. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Troy Little sold 2,033 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $83.10, for a total value of $168,942.30. Following the sale, the executive vice president directly owned 12,701 shares in the company, valued at approximately $1,055,453.10. This represents a 13.80% decrease in their ownership of the stock. 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 over the last ninety days. 1.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently made changes to their positions in BCC. Farther Finance Advisors LLC increased its holdings in shares of Boise Cascade by 338.5% in the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after purchasing an additional 369 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Boise Cascade by 60.6% in the first quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock worth $143,000 after purchasing an additional 550 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Boise Cascade by 50.8% in the first quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock worth $2,325,000 after purchasing an additional 7,983 shares during the last quarter. Mission Wealth Management LP increased its holdings in shares of Boise Cascade by 4.4% in the first quarter. Mission Wealth Management LP now owns 7,729 shares of the construction company's stock worth $758,000 after purchasing an additional 327 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after purchasing an additional 444 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

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.

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