The Goldman Sachs Group Trims Boise Cascade (NYSE:BCC) Target Price to $122.00

Boise Cascade (NYSE:BCC) had its price objective reduced by equities researchers at The Goldman Sachs Group from $140.00 to $122.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 1.09% from the stock’s previous close.

BCC has been the subject of a number of other reports. Truist Financial lifted their target price on Boise Cascade from $156.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $130.00.

Boise Cascade Trading Up 6.7 %

Shares of BCC stock opened at $123.34 on Wednesday. The company has a market cap of $4.87 billion, a P/E ratio of 10.03 and a beta of 1.50. The stock has a 50 day simple moving average of $128.94 and a two-hundred day simple moving average of $134.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.05 and a current ratio of 3.24. Boise Cascade has a fifty-two week low of $87.32 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.43 earnings per share. Research analysts forecast that Boise Cascade will post 10.84 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares in the company, valued at $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jeffrey Robert Strom sold 2,500 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the completion of the sale, the executive vice president now owns 43,353 shares in the company, valued at $5,852,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jill Twedt sold 1,852 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the sale, the senior vice president now owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BCC. Norges Bank purchased a new position in Boise Cascade in the fourth quarter worth $60,383,000. Wellington Management Group LLP lifted its position in shares of Boise Cascade by 45.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,349,170 shares of the construction company’s stock valued at $139,018,000 after buying an additional 418,891 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Boise Cascade by 59.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,096,986 shares of the construction company’s stock valued at $141,906,000 after buying an additional 409,906 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Boise Cascade by 293.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after buying an additional 176,738 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Boise Cascade by 55.0% during the 4th quarter. LSV Asset Management now owns 446,057 shares of the construction company’s stock valued at $57,702,000 after buying an additional 158,363 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.