Truist Financial Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC - Get Free Report) had its target price cut by stock analysts at Truist Financial from $114.00 to $106.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Truist Financial's target price would indicate a potential upside of 16.15% from the company's previous close.

Separately, Loop Capital dropped their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Boise Cascade presently has an average rating of "Hold" and a consensus target price of $123.00.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded up $1.31 during trading hours on Tuesday, hitting $91.26. The stock had a trading volume of 118,604 shares, compared to its average volume of 324,139. The stock's fifty day simple moving average is $89.04 and its 200 day simple moving average is $102.57. Boise Cascade has a 1-year low of $83.60 and a 1-year high of $155.42. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 4.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted $2.61 EPS. Boise Cascade's revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joanna L. Barney sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president directly owned 12,372 shares in the company, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jill Twedt sold 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president owned 34,649 shares of the company's stock, valued at $3,049,458.49. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCC. Charles Schwab Investment Management Inc. boosted its stake in Boise Cascade by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company's stock worth $52,737,000 after purchasing an additional 6,182 shares during the period. Proficio Capital Partners LLC acquired a new position in Boise Cascade in the 4th quarter worth approximately $3,334,000. Raymond James Financial Inc. acquired a new position in Boise Cascade in the 4th quarter worth approximately $1,601,000. Amundi boosted its stake in Boise Cascade by 100.0% in the 4th quarter. Amundi now owns 22,101 shares of the construction company's stock worth $2,595,000 after purchasing an additional 11,052 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Boise Cascade by 20.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,277 shares of the construction company's stock worth $1,340,000 after purchasing an additional 1,947 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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