Truist Financial Boosts Boise Cascade (NYSE:BCC) Price Target to $103.00

Boise Cascade (NYSE:BCC) had its target price increased by equities research analysts at Truist Financial from $92.00 to $103.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 23.07% from the stock’s previous close.

A number of other brokerages have also recently weighed in on BCC. The Goldman Sachs Group upped their price target on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. DA Davidson reiterated a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a research report on Tuesday. Finally, Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Boise Cascade has an average rating of “Moderate Buy” and an average price target of $105.67.

Boise Cascade Stock Up 0.1%

Shares of BCC opened at $83.69 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 3.36 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $81.93 and a two-hundred day moving average price of $78.94. The stock 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 12 month low of $65.14 and a 12 month high of $106.41.

Institutional Investors Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after acquiring an additional 539,962 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Boise Cascade by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,280,347 shares of the construction company’s stock valued at $176,313,000 after purchasing an additional 58,131 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Boise Cascade by 9.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after purchasing an additional 145,721 shares during the last quarter. State Street Corp lifted its holdings in Boise Cascade by 0.3% during the 4th quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock worth $108,344,000 after buying an additional 3,817 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Boise Cascade by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after buying an additional 55,052 shares in 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.