BMO Capital Markets Boosts Boise Cascade (NYSE:BCC) Price Target to $136.00

by · The Markets Daily

Boise Cascade (NYSE:BCC – Get Free Report) had its price objective hoisted by research analysts at BMO Capital Markets from $130.00 to $136.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 0.22% from the stock’s previous close.

A number of other brokerages also recently commented on BCC. Bank of America boosted their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group dropped their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial boosted their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.75.

View Our Latest Research Report on Boise Cascade

Boise Cascade Stock Down 1.6 %

NYSE BCC traded down $2.20 on Tuesday, reaching $135.70. 79,509 shares of the stock traded hands, compared to its average volume of 310,052. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 11.05 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The company has a fifty day moving average price of $135.15 and a 200-day moving average price of $133.34.

Boise Cascade (NYSE:BCC – Get Free Report) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $3.67 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts forecast that Boise Cascade will post 9.71 EPS for the current fiscal year.

Institutional Trading of Boise Cascade

A number of institutional investors have recently bought and sold shares of BCC. Larson Financial Group LLC purchased a new position in shares of Boise Cascade in the second quarter worth $36,000. iA Global Asset Management Inc. acquired a new stake in Boise Cascade during the 1st quarter worth about $82,000. Daiwa Securities Group Inc. lifted its position in Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC increased its holdings in shares of Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after purchasing an additional 197 shares during the period. Finally, CWM LLC increased its holdings in shares of Boise Cascade by 26.5% in the third 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. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

(Get Free Report)

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.

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