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

Boise Cascade (NYSE:BCC) had its target price lowered by analysts at Truist Financial from $161.00 to $157.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective would indicate a potential upside of 32.81% from the company’s current price.

A number of other research analysts have also recently commented on the company. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital began coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Bank of America upped their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Finally, BMO Capital Markets lifted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.80.

Boise Cascade Stock Performance

NYSE BCC opened at $118.21 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The stock’s fifty day moving average is $135.42 and its two-hundred day moving average is $133.04. The firm has a market capitalization of $4.54 billion, a P/E ratio of 11.57 and a beta of 1.58. Boise Cascade has a fifty-two week low of $113.89 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm posted $3.58 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC acquired a new stake in Boise Cascade in the 2nd quarter valued at about $36,000. CWM LLC boosted its stake in shares of Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the period. Covestor Ltd boosted its stake in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after buying an additional 230 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Boise Cascade during the second quarter worth about $148,000. 96.18% of the stock is currently 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.