Truist Financial Lowers Boise Cascade (NYSE:BCC) Price Target to $157.00

Boise Cascade (NYSE:BCC - Get Free Report) had its target price cut by equities research analysts at Truist Financial from $161.00 to $157.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Truist Financial's price target points to a potential upside of 30.52% from the stock's previous close.

Several other research firms also recently commented on BCC. Bank of America increased their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a report on Thursday, September 12th. Loop Capital began coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a "buy" rating and a $155.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $138.80.

Boise Cascade Stock Up 1.3 %

Shares of BCC traded up $1.55 during midday trading on Monday, hitting $120.29. The stock had a trading volume of 188,514 shares, compared to its average volume of 252,271. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 11.77 and a beta of 1.58. The company has a 50 day simple moving average of $135.69 and a two-hundred day simple moving average of $133.07. Boise Cascade has a twelve month low of $113.89 and a twelve month high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business had revenue of $1.71 billion for 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 quarter in the previous year, the company posted $3.58 EPS. On average, analysts anticipate that Boise Cascade will post 9.57 EPS for the current year.

Institutional Investors Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in Boise Cascade during the 3rd quarter worth $28,000. Larson Financial Group LLC acquired a new position in Boise Cascade in the second quarter valued at about $36,000. CWM LLC lifted its position in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company's stock worth $95,000 after purchasing an additional 141 shares during the period. Covestor Ltd grew its stake in Boise Cascade by 50.1% during the third quarter. Covestor Ltd now owns 689 shares of the construction company's stock worth $97,000 after buying an additional 230 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Boise Cascade in the 2nd quarter valued at about $148,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

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.