The Goldman Sachs Group Has Lowered Expectations for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price target lowered by equities research analysts at The Goldman Sachs Group from $145.00 to $126.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 0.95% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Truist Financial reduced their price target on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.60.

Boise Cascade Stock Up 2.9 %

Shares of NYSE:BCC opened at $127.21 on Tuesday. The firm has a 50 day simple moving average of $133.53 and a 200 day simple moving average of $132.99. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The company has a market cap of $4.89 billion, a PE ratio of 12.45 and a beta of 1.58.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $3.58 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts expect that Boise Cascade will post 9.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade in the third quarter valued at approximately $28,000. Larson Financial Group LLC raised its stake in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. CWM LLC boosted its holdings in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares during the period. Covestor Ltd grew its position in Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after purchasing an additional 230 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Boise Cascade by 19.0% during the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after purchasing an additional 196 shares during the period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Company Profile

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.