DA Davidson Has Lowered Expectations for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price target reduced by stock analysts at DA Davidson from $155.00 to $125.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. DA Davidson’s target price would indicate a potential upside of 17.35% from the company’s previous close.

BCC has been the subject of several other research reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial dropped their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Loop Capital dropped their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research note 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 for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $106.52 on Monday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 11.14 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $121.97 and a 200 day simple moving average of $132.03. Boise Cascade has a one year low of $102.27 and a one year high of $155.42.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Research analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Boise Cascade by 263.7% during the fourth quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company’s stock worth $2,275,000 after buying an additional 13,879 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Boise Cascade by 3.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company’s stock worth $6,042,000 after purchasing an additional 1,471 shares during the period. Vise Technologies Inc. grew its holdings in Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after purchasing an additional 100 shares during the period. Voloridge Investment Management LLC grew its holdings in Boise Cascade by 80.9% in the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company’s stock worth $1,866,000 after purchasing an additional 7,021 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in Boise Cascade by 3.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock worth $141,755,000 after purchasing an additional 45,010 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.