Boise Cascade (NYSE: BCC) raised to “buy” from Zacks Investment Research
Boise Cascade (NYSE: BCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Zacks.com reports. The company currently has a price target of $ 66.00 on shares of the construction company. Zacks Investment Research’s price target suggests a potential rise of 12.38% from the company’s current price.
According to Zacks, “Boise Cascade Company operates as a manufacturer of wood products and a distributor of building materials. The company manufactures engineered wood products, plywood, lumber and particle board and distributes wood products, such as decks, EWP, lumber, panels, panels particles and MDF. products. It operates primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
Separately, the Goldman Sachs group began covering Boise Cascade shares in a research report on Thursday, July 15. They set a “sell” rating and a target price of $ 45 for the stock. Two analysts gave the stock a sell rating, two assigned a conservation rating, and two gave the company’s stock a buy rating. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $ 57.83.
NYSE BCC shares traded down $ 0.36 in Friday trading, reaching $ 58.73. The company had a trading volume of 386,182 shares, compared to its average volume of 378,139. The stock has a fifty-day simple moving average of $ 55.62 and a two-hundred-day simple moving average of 59. $ 37. Boise Cascade has a minimum of $ 36.90 over 52 weeks and a maximum of $ 78.35 over 52 weeks. The company has a market cap of $ 2.31 billion, a price / earnings ratio of 4.01, a price / earnings-growth ratio of 0.36, and a beta of 1.98. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt ratio of 0.39.
Boise Cascade (NYSE: BCC) last reported its results on Sunday, August 1. The construction company reported earnings per share (EPS) of $ 7.62 for the quarter, beating the Thomson Reuters consensus estimate of $ 4.87 per $ 2.75. Boise Cascade had a net margin of 7.93% and a return on equity of 66.14%. The company posted revenue of $ 2.44 billion for the quarter, compared to $ 2.06 billion according to analysts’ estimates. In the same quarter of last year, the company made earnings per share of $ 0.85. The company’s revenue for the quarter increased 96.6% compared to the same quarter last year. On average, analysts predict Boise Cascade will post 15.54 earnings per share for the current year.
Hedge funds recently changed their holdings in the company. Ameritas Investment Company LLC purchased a new position in Boise Cascade during the first quarter valued at approximately $ 26,000. Carolina Wealth Advisors LLC increased its stake in Boise Cascade by 18.7% during the second quarter. Carolina Wealth Advisors LLC now owns 1,417 shares of the construction company valued at $ 83,000 after purchasing an additional 223 shares during the period. PNC Financial Services Group Inc. increased its stake in Boise Cascade shares by 12.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,396 shares of the construction company valued at $ 141,000 after acquiring 264 additional shares during the period. Maverick Capital Ltd. purchased a new stake in Boise Cascade shares in the 1st quarter valued at approximately $ 146,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in the shares of Boise Cascade in the second quarter for a value of approximately $ 158,000. 91.06% of the shares are currently held by institutional investors.
About Boise Cascade
Boise Cascade Co is engaged in the manufacture and distribution of engineered wood (EWP) and plywood products. It operates through the Timber Products and Building Materials Distribution (BMD) segments. The Wood Products segment manufactures and sells engineered wood products, plywood, particle board, studs and ponderosa pine lumber.
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