The Goldman Sachs Group Lowers Boise Cascade (NYSE:BCC) Price Target to $126.00

Boise Cascade (NYSE:BCC) had its price target cut by investment analysts at The Goldman Sachs Group from $145.00 to $126.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 4.69% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BCC. BMO Capital Markets upped their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reduced their price target on shares of 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, Loop Capital initiated coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $120.35 on Tuesday. Boise Cascade has a twelve month low of $113.38 and a twelve month high of $155.42. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 11.78 and a beta of 1.58. The firm has a 50-day moving average of $134.12 and a two-hundred day moving average of $133.00.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $3.58 earnings per share. Boise Cascade’s revenue was down 6.6% compared to the same quarter last year. As a group, analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Institutional Trading of Boise Cascade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its holdings in Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Boise Cascade by 4.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after buying an additional 78 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Boise Cascade by 7.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after buying an additional 128 shares during the last quarter. Invst LLC grew its holdings in Boise Cascade by 2.6% in the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after buying an additional 128 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Boise Cascade by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds 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.