Boise Cascade (NYSE:BCC) Given New $126.00 Price Target at The Goldman Sachs Group

Boise Cascade (NYSE:BCC) had its price objective decreased by stock analysts at The Goldman Sachs Group from $145.00 to $126.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 0.95% from the stock’s current price.

BCC has been the subject of a number of other reports. BMO Capital Markets increased their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial dropped their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Up 2.9 %

BCC opened at $127.21 on Tuesday. The company has a market capitalization of $4.89 billion, a P/E ratio of 12.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The firm’s fifty day moving average price is $133.53 and its two-hundred day moving average price is $132.99. Boise Cascade has a fifty-two week low of $113.38 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC) last issued its 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 business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $3.58 earnings per share. Boise Cascade’s revenue was down 6.6% on a year-over-year basis. On average, analysts anticipate that Boise Cascade will post 9.57 EPS 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 stock. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade during the third quarter worth approximately $28,000. Larson Financial Group LLC raised its position in Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. CWM LLC lifted its holdings in Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares in the last quarter. Covestor Ltd boosted its position in 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 last quarter. Finally, KBC Group NV increased its stake in shares of Boise Cascade by 19.0% in the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after buying an additional 196 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.