Boise Cascade Company Stock Rating Upgraded by DA Davidson (BCC)
Boise Cascade Company (NYSE:BCC) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 price objective on the stock. DA Davidson’s price target would indicate a potential upside of 27.99% from the company’s current price.
The analysts wrote, “We have raised our FY 2013 estimate from $0.77 to $1.15, which reflects the beat and higher expectations for the 2H-13. We expect some level of inventory recovery within BMD in Q3 thanks to firming Plywood prices, accretion from the Wood Resources deal and a diminished share count. The second two factors propel our FY 2014 EPS from $1.75 to $2.10. Risks emanate primarily from commodity fluctuations, a weaker than expected U.S. housing recovery, and a delay in the closing of the Wood Resources LLC acquisition.”
BCC has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Boise Cascade Company from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $23.70 price target on the stock.
Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $26.62.
Boise Cascade Company (NYSE:BCC) traded up 1.49% during mid-day trading on Monday, hitting $23.79. 54,657 shares of the company’s stock traded hands. Boise Cascade Company has a 52-week low of $23.01 and a 52-week high of $34.54. The stock’s 50-day moving average is $25.90 and its 200-day moving average is $28.42. The company has a market cap of $936.5 million and a price-to-earnings ratio of 7.08.
Boise Cascade Company (NYSE:BCC) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.01. The company had revenue of $852.30 million for the quarter, compared to the consensus estimate of $843.49 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. Analysts expect that Boise Cascade Company will post $0.95 EPS for the current fiscal year.
Boise Cascade Company, formerly Boise Cascade, LLC., is a vertically-integrated wood products manufacturer and building materials distributor with operations throughout the United States and Canada.
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