Loop Capital Cuts Boise Cascade (NYSE:BCC) Price Target to $135.00

Boise Cascade (NYSE:BCC) had its price objective cut by equities research analysts at Loop Capital from $140.00 to $135.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price objective would indicate a potential upside of 44.00% from the company’s current price.

A number of other research firms also recently commented on BCC. DA Davidson lowered their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, February 24th. BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial lowered their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and a consensus target price of $127.67.

Boise Cascade Stock Down 1.2 %

Shares of BCC stock opened at $93.75 on Monday. The company’s fifty day simple moving average is $103.44 and its two-hundred day simple moving average is $123.40. Boise Cascade has a 52 week low of $87.84 and a 52 week high of $155.42. The stock has a market cap of $3.56 billion, a P/E ratio of 9.81 and a beta of 1.52. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. Analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

Institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Boise Cascade during the fourth quarter valued at $29,000. Quarry LP grew its holdings in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after acquiring an additional 211 shares in the last quarter. Principal Securities Inc. increased its position in Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after purchasing an additional 145 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company’s stock valued at $47,000 after purchasing an additional 369 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock valued at $92,000 after purchasing an additional 558 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through 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; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.