Truist Financial Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price objective lowered by investment analysts at Truist Financial from $157.00 to $134.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 25.80% from the stock’s previous close.

Several other research firms also recently weighed in on BCC. Loop Capital decreased their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. DA Davidson cut their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their target price on 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 analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Boise Cascade has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Trading Up 2.7 %

Shares of BCC opened at $106.52 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 1 year low of $102.27 and a 1 year high of $155.42. The company has a 50 day simple moving average of $121.97 and a two-hundred day simple moving average of $132.03. The firm has a market cap of $4.04 billion, a P/E ratio of 11.14 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last posted its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in Boise Cascade by 263.7% in the 4th 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 boosted its position in Boise Cascade by 3.0% in the 4th 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 in the last quarter. Vise Technologies Inc. boosted its position in Boise Cascade by 3.4% in the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after purchasing an additional 100 shares in the last quarter. Voloridge Investment Management LLC boosted its position in Boise Cascade by 80.9% in the 4th 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 in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in Boise Cascade by 3.9% in the 4th 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 in the last quarter. 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.