The Goldman Sachs Group Increases Boise Cascade (NYSE:BCC) Price Target to $94.00

Boise Cascade (NYSE:BCC) had its price objective hoisted by equities researchers at The Goldman Sachs Group from $85.00 to $94.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 12.32% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. DA Davidson reiterated a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a research note on Tuesday. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Finally, Truist Financial upped their target price on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Moderate Buy” and a consensus price target of $105.67.

Boise Cascade Stock Up 0.1%

BCC stock opened at $83.69 on Wednesday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 23.78 and a beta of 1.27. Boise Cascade has a twelve month low of $65.14 and a twelve month high of $106.41. The business has a 50 day moving average price of $81.93 and a two-hundred day moving average price of $78.94. The company has a quick ratio of 1.69, a current ratio of 3.36 and a debt-to-equity ratio of 0.22.

Institutional Trading of Boise Cascade

A number of hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new stake in shares of Boise Cascade during the 3rd quarter worth about $28,000. Caitong International Asset Management Co. Ltd lifted its position in Boise Cascade by 231.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after acquiring an additional 179 shares during the period. Huntington National Bank boosted its holdings in shares of Boise Cascade by 630.0% during the second quarter. Huntington National Bank now owns 438 shares of the construction company’s stock worth $38,000 after acquiring an additional 378 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of Boise Cascade by 1,071.4% in the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.