Boise Cascade (NYSE:BCC) Price Target Cut to $122.00 by Analysts at BMO Capital Markets

Boise Cascade (NYSE:BCC) had its price objective dropped by equities research analysts at BMO Capital Markets from $136.00 to $122.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.82% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Benchmark reissued a “hold” rating on shares of Boise Cascade in a research note on Tuesday. DA Davidson decreased their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital lowered their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial reduced their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $128.50.

Boise Cascade Stock Up 2.5 %

Boise Cascade stock traded up $2.56 during mid-day trading on Tuesday, reaching $106.25. The company’s stock had a trading volume of 141,398 shares, compared to its average volume of 303,013. The business’s 50 day simple moving average is $122.50 and its 200 day simple moving average is $132.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. Boise Cascade has a 12 month low of $102.27 and a 12 month high of $155.42. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 11.10 and a beta of 1.57.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Boise Cascade during the fourth quarter valued at $55,680,000. First Trust Advisors LP raised its position in shares of Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after acquiring an additional 195,773 shares during the last quarter. American Century Companies Inc. increased its position in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares during the period. Bank of Montreal Can boosted its stake in shares of Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock worth $11,921,000 after buying an additional 84,487 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.