Weiss Ratings Reiterates Hold (C-) Rating for Boise Cascade (NYSE:BCC)

Key Points

• Weiss Ratings has reiterated a Hold (C-) rating for Boise Cascade (NYSE:BCC), highlighting the company's current market position.
• Boise Cascade's stock price has recently decreased, with DA Davidson lowering their price target to $100.00, while Bank of America cut theirs to $107.00.
• The construction company's quarterly earnings report revealed an EPS of $1.64, falling short of expectations, and a 3.2% year-over-year revenue decline.

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

A number of other equities analysts also recently commented on the stock. DA Davidson cut their price objective on shares of 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 restated a "market perform" rating and set a $100.00 price objective on shares of Boise Cascade in a research report on Tuesday, September 16th. Bank of America cut their price objective on shares of Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Finally, Truist Financial lowered 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 note on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.67.

Boise Cascade Stock Performance

Boise Cascade stock traded up $1.94 during trading hours on Wednesday, reaching $76.46. 237,919 shares of the stock were exchanged, compared to its average volume of 355,567. The stock has a market cap of $2.86 billion, a P/E ratio of 11.23, a P/E/G ratio of 5.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. Boise Cascade has a 52-week low of $74.18 and a 52-week high of $155.42. The firm's 50 day moving average is $83.50 and its 200 day moving average is $88.32.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.84 EPS. Analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Insider Activity at Boise Cascade

In related news, SVP Jill Twedt sold 1,782 shares of the stock in a transaction dated Wednesday, August 6th. The shares were 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 of the company's stock, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the sale, the chief operating officer directly owned 37,026 shares in the company, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,815 shares of company stock valued at $409,637. Insiders own 1.11% of the company's stock.

Institutional Investors Weigh In On Boise Cascade

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Boise Cascade by 120.7% during the 1st 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 during the last quarter. Huntington National Bank boosted its stake in shares of Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company's stock worth $38,000 after purchasing an additional 378 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Boise Cascade by 338.5% during the 1st 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. RMG Wealth Management LLC acquired a new stake in shares of Boise Cascade during the 2nd quarter worth about $42,000. Finally, Blue Trust Inc. boosted its stake in shares of Boise Cascade by 93.7% during the 1st 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 and hedge funds.

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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