Boise Cascade (NYSE:BCC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, December 13th, ValuEngine reports.
Other equities research analysts have also issued reports about the stock. DA Davidson lowered shares of Boise Cascade from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Friday, November 8th. Vertical Research downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Zacks Investment Research lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Boise Cascade has a consensus rating of “Hold” and a consensus price target of $32.40.
Shares of Boise Cascade stock traded up $0.18 during trading on Friday, hitting $37.27. The company’s stock had a trading volume of 634,264 shares, compared to its average volume of 280,323. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.42 and a beta of 2.05. Boise Cascade has a 52 week low of $22.00 and a 52 week high of $40.13. The stock has a 50-day moving average price of $37.96 and a two-hundred day moving average price of $31.45. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.53 and a quick ratio of 1.42.
Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Boise Cascade had a positive return on equity of 8.10% and a negative net margin of 0.13%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts predict that Boise Cascade will post 1.94 EPS for the current fiscal year.
In other news, EVP Nick Stokes sold 13,016 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $37.76, for a total value of $491,484.16. Following the transaction, the executive vice president now owns 67,588 shares in the company, valued at $2,552,122.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stewart David purchased 196,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were bought at an average price of $0.23 per share, with a total value of $45,276.00. Over the last 90 days, insiders sold 58,940 shares of company stock valued at $2,248,861. 1.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BCC. FMR LLC lifted its position in shares of Boise Cascade by 436.4% during the 1st quarter. FMR LLC now owns 3,331 shares of the construction company’s stock worth $89,000 after buying an additional 2,710 shares in the last quarter. First Trust Advisors LP lifted its holdings in Boise Cascade by 22.2% during the first quarter. First Trust Advisors LP now owns 89,785 shares of the construction company’s stock worth $2,403,000 after acquiring an additional 16,333 shares during the period. Arizona State Retirement System lifted its holdings in Boise Cascade by 1.2% during the second quarter. Arizona State Retirement System now owns 60,459 shares of the construction company’s stock worth $1,700,000 after acquiring an additional 745 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in Boise Cascade by 11.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,250 shares of the construction company’s stock worth $1,778,000 after purchasing an additional 6,375 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Boise Cascade in the second quarter worth $115,000. 92.37% of the stock is currently owned by institutional investors.
Boise Cascade Company Profile
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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