Boise Cascade (NYSE:BCC) Given New $94.00 Price Target at The Goldman Sachs Group

Boise Cascade (NYSE:BCC) had its price objective raised by research analysts at The Goldman Sachs Group from $85.00 to $94.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 12.85% from the stock’s previous close.

Several other research analysts have also issued reports on BCC. BMO Capital Markets reiterated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. DA Davidson reaffirmed a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a research note on Tuesday. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Finally, Truist Financial raised their price objective on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

Boise Cascade Stock Down 3.9%

Shares of NYSE:BCC traded down $3.37 during trading on Wednesday, hitting $83.29. The stock had a trading volume of 163,683 shares, compared to its average volume of 404,234. The company has a market capitalization of $3.09 billion, a PE ratio of 23.67 and a beta of 1.27. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $81.66 and its 200 day moving average is $78.87. Boise Cascade has a 12 month low of $65.14 and a 12 month high of $106.67.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Boise Cascade by 4.0% during the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock valued at $3,404,000 after acquiring an additional 1,332 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Boise Cascade by 8.8% during the 1st quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after acquiring an additional 2,966 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Boise Cascade by 1,638.4% during the 1st quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after acquiring an additional 3,883 shares during the period. United Services Automobile Association purchased a new stake in shares of Boise Cascade in the 1st quarter worth $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Boise Cascade by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock worth $19,974,000 after purchasing an additional 3,978 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.