Loop Capital Cuts Boise Cascade (NYSE:BCC) Price Target to $140.00

Boise Cascade (NYSE:BCC) had its target price lowered by equities research analysts at Loop Capital from $145.00 to $140.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s price target suggests a potential upside of 32.58% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial lowered their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $134.67.

Boise Cascade Stock Performance

Shares of NYSE:BCC traded down $1.19 during trading on Monday, reaching $105.60. The company had a trading volume of 109,628 shares, compared to its average volume of 292,765. Boise Cascade has a fifty-two week low of $102.27 and a fifty-two week high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The stock’s fifty day moving average price is $123.15 and its 200 day moving average price is $132.34. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 11.02 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 16.89% and a net margin of 5.60%. As a group, equities research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. raised its position in Boise Cascade by 3.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock worth $141,755,000 after acquiring an additional 45,010 shares during the last quarter. American Century Companies Inc. grew its holdings 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 buying an additional 121,790 shares during the last quarter. First Trust Advisors LP increased its position in 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 buying an additional 195,773 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Boise Cascade by 17.8% in the fourth quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock worth $57,429,000 after acquiring an additional 73,061 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. 96.18% of the stock is owned by institutional investors and hedge funds.

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.