Boise Cascade’s (BCC) Buy Rating Reaffirmed at DA Davidson

Boise Cascade (NYSE:BCC)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a research report issued on Tuesday,Benzinga reports. They presently have a $95.00 price target on the construction company’s stock. DA Davidson’s price target indicates a potential upside of 28.81% from the company’s previous close.

BCC has been the topic of several other reports. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Truist Financial reduced their price objective on shares of Boise Cascade from $103.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. The Goldman Sachs Group boosted their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Boise Cascade presently has an average rating of “Moderate Buy” and an average target price of $99.20.

Boise Cascade Trading Down 0.8%

BCC traded down $0.58 on Tuesday, hitting $73.75. The company had a trading volume of 387,143 shares, compared to its average volume of 415,089. The firm has a market cap of $2.64 billion, a P/E ratio of 21.17, a PEG ratio of 1.13 and a beta of 1.15. Boise Cascade has a 1 year low of $65.14 and a 1 year high of $95.55. The company’s fifty day moving average price is $77.55 and its 200 day moving average price is $77.14. The company has a current ratio of 3.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a net margin of 2.07% and a return on equity of 6.54%. Boise Cascade’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. As a group, equities analysts expect that Boise Cascade will post 3.81 earnings per share for the current year.

Institutional Trading of Boise Cascade

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in Boise Cascade by 2.0% during the first quarter. Principal Financial Group Inc. now owns 180,033 shares of the construction company’s stock worth $13,656,000 after purchasing an additional 3,456 shares during the period. Fifth Third Bancorp increased its stake in Boise Cascade by 4,085.1% during the first quarter. Fifth Third Bancorp now owns 17,159 shares of the construction company’s stock worth $1,302,000 after purchasing an additional 16,749 shares during the period. Sequoia Financial Advisors LLC increased its stake in Boise Cascade by 12.7% during the first quarter. Sequoia Financial Advisors LLC now owns 3,536 shares of the construction company’s stock worth $268,000 after purchasing an additional 398 shares during the period. ARGA Investment Management LP increased its stake in Boise Cascade by 6.2% during the first quarter. ARGA Investment Management LP now owns 25,212 shares of the construction company’s stock worth $1,912,000 after purchasing an additional 1,473 shares during the period. Finally, R Squared Ltd purchased a new stake in Boise Cascade during the first quarter worth about $219,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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.