BidaskClub Lowers Boise Cascade Co (BCC) to Sell
Boise Cascade Co (NYSE:BCC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research note on Monday, May 8th. TheStreet upgraded Boise Cascade from a “c” rating to a “b” rating in a research note on Friday, May 5th. BMO Capital Markets reiterated a “hold” rating and issued a $30.00 target price on shares of Boise Cascade in a research note on Wednesday, April 12th. Finally, Bank of America Corporation upgraded Boise Cascade from a “neutral” rating to a “buy” rating and lifted their target price for the company from $32.00 to $34.00 in a research note on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.
Shares of Boise Cascade (BCC) traded down 0.87% during trading on Thursday, reaching $28.40. 234,211 shares of the company were exchanged. The firm has a market capitalization of $1.09 billion, a P/E ratio of 25.36 and a beta of 2.06. Boise Cascade has a 1-year low of $17.80 and a 1-year high of $33.40. The firm’s 50 day moving average is $28.71 and its 200 day moving average is $27.16.
Boise Cascade (NYSE:BCC) last posted its earnings results on Wednesday, May 3rd. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.17. Boise Cascade had a return on equity of 6.87% and a net margin of 1.03%. The company had revenue of $974.40 million for the quarter, compared to analyst estimates of $966.82 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Boise Cascade will post $1.71 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Boise Cascade during the first quarter worth $110,000. State of Alaska Department of Revenue raised its stake in shares of Boise Cascade by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 4,250 shares of the construction company’s stock worth $113,000 after buying an additional 60 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Boise Cascade during the first quarter worth $125,000. SG Americas Securities LLC acquired a new stake in shares of Boise Cascade during the first quarter worth $136,000. Finally, First Interstate Bank raised its stake in shares of Boise Cascade by 26.6% in the first quarter. First Interstate Bank now owns 6,280 shares of the construction company’s stock worth $168,000 after buying an additional 1,320 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.
Boise Cascade Company Profile
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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