BMO Capital Markets Lowers Boise Cascade (NYSE:BCC) Price Target to $122.00

Boise Cascade (NYSE:BCC) had its price target cut by equities research analysts at BMO Capital Markets from $136.00 to $122.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.82% from the stock’s previous close.

A number of other research analysts have also weighed in on BCC. DA Davidson dropped their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Loop Capital reduced their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $128.50.

Boise Cascade Stock Up 2.5 %

Shares of NYSE BCC traded up $2.56 during midday trading on Tuesday, hitting $106.25. 141,398 shares of the stock traded hands, compared to its average volume of 303,013. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The business has a 50 day moving average price of $122.50 and a two-hundred day moving average price of $132.18. Boise Cascade has a one year low of $102.27 and a one year high of $155.42. The company has a market cap of $4.03 billion, a PE ratio of 11.10 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 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, equities analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Hedge Funds Weigh In On Boise Cascade

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Boise Cascade in the fourth quarter worth about $55,680,000. First Trust Advisors LP grew its position in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after acquiring an additional 195,773 shares during the last quarter. American Century Companies Inc. increased its stake in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares during the period. Bank of Montreal Can lifted its position in Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after purchasing an additional 84,487 shares during the period. Institutional investors own 96.18% of the company’s stock.

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.