Boise Cascade (NYSE:BCC) Sees Large Increase in Short Interest

Boise Cascade (NYSE:BCC - Get Free Report) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,150,000 shares, a growth of 19.5% from the December 31st total of 962,300 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 269,000 shares, the days-to-cover ratio is presently 4.3 days.

Boise Cascade Stock Down 0.7 %

Boise Cascade stock traded down $0.91 during midday trading on Wednesday, hitting $124.66. The stock had a trading volume of 249,911 shares, compared to its average volume of 279,144. The business has a fifty day moving average price of $128.96 and a 200 day moving average price of $133.49. Boise Cascade has a 12 month low of $113.38 and a 12 month high of $155.42. The stock has a market cap of $4.79 billion, a P/E ratio of 12.20 and a beta of 1.57. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.58 EPS. Research analysts predict that Boise Cascade will post 9.6 EPS for the current year.

Hedge Funds Weigh In On Boise Cascade

A number of large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Boise Cascade in the 3rd quarter worth approximately $28,000. R Squared Ltd bought a new stake in Boise Cascade in the fourth quarter valued at $29,000. Larson Financial Group LLC boosted its holdings in shares of Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock valued at $53,000 after acquiring an additional 73 shares during the period. Principal Securities Inc. increased its holdings in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after acquiring an additional 145 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company's stock valued at $92,000 after purchasing an additional 558 shares during the last quarter. Institutional investors own 96.18% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BCC shares. 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 price target for the company. BMO Capital Markets lifted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price target 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. Truist Financial cut their price objective on Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, StockNews.com cut Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Boise Cascade has an average rating of "Hold" and a consensus target price of $139.60.

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.