Truist Financial Lowers Boise Cascade (NYSE:BCC) Price Target to $157.00

Boise Cascade (NYSE:BCC) had its price target lowered by equities researchers at Truist Financial from $161.00 to $157.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would suggest a potential upside of 32.22% from the stock’s current price.

BCC has been the subject of several other reports. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Bank of America lifted their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets increased their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.80.

Boise Cascade Trading Up 1.3 %

Boise Cascade stock opened at $118.74 on Monday. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The company’s fifty day moving average price is $136.06 and its two-hundred day moving average price is $133.09. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 11.62 and a beta of 1.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

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

Hedge Funds Weigh In On Boise Cascade

Several large investors have recently added to or reduced their stakes in BCC. Dimensional Fund Advisors LP increased its position in shares of Boise Cascade by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock valued at $335,419,000 after purchasing an additional 22,053 shares during the period. Westwood Holdings Group Inc. increased its holdings in Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after buying an additional 579,759 shares during the period. American Century Companies Inc. raised its stake in shares of Boise Cascade by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock valued at $106,957,000 after buying an additional 21,030 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Boise Cascade by 46.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after acquiring an additional 120,600 shares during the period. 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.