Boise Cascade (NYSE:BCC) Given New $134.00 Price Target at Truist Financial

Boise Cascade (NYSE:BCC) had its price objective decreased by research analysts at Truist Financial from $157.00 to $134.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would indicate a potential upside of 26.58% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. DA Davidson dropped their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. Loop Capital reduced their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $130.83.

Boise Cascade Stock Down 0.9 %

Shares of BCC traded down $0.93 during trading hours on Monday, reaching $105.86. 214,111 shares of the stock traded hands, compared to its average volume of 295,692. The stock has a fifty day simple moving average of $123.15 and a 200 day simple moving average of $132.34. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52 week low of $102.27 and a 52 week high of $155.42. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 11.07 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data 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 return on equity of 16.89% and a net margin of 5.60%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, equities analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade in the 3rd quarter worth $28,000. R Squared Ltd acquired a new position in Boise Cascade in the 4th quarter valued at $29,000. Quarry LP lifted its holdings in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after purchasing an additional 211 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Boise Cascade by 23.9% in 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 in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock valued at $56,000 after buying an additional 145 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

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.