Boise Cascade L.L.C. (BCC) Stock Price Down 3.4%
Boise Cascade L.L.C. (NYSE:BCC) shares dropped 3.4% during mid-day trading on Friday . The company traded as low as $23.88 and last traded at $23.88, with a volume of 556,415 shares trading hands. The stock had previously closed at $24.72.
BCC has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 target price on shares of Boise Cascade L.L.C. in a report on Tuesday, July 12th. Bank of America Corp. lowered Boise Cascade L.L.C. from a “buy” rating to a “neutral” rating and set a $23.00 target price for the company. in a report on Friday, July 1st. They noted that the move was a valuation call. Zacks Investment Research lowered Boise Cascade L.L.C. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, TheStreet upgraded Boise Cascade L.L.C. from a “hold” rating to a “buy” rating in a report on Thursday, July 28th.
The firm has a market capitalization of $924.19 million and a P/E ratio of 19.13. The stock has a 50 day moving average price of $25.86 and a 200 day moving average price of $21.74.
Boise Cascade L.L.C. (NYSE:BCC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, analysts predict that Boise Cascade L.L.C. will post $1.47 earnings per share for the current fiscal year.
Several hedge funds and institutional investors have modified their holdings of BCC. Rhumbline Advisers raised its position in shares of Boise Cascade L.L.C. by 8.0% in the fourth quarter. Rhumbline Advisers now owns 47,509 shares of the company’s stock worth $1,213,000 after buying an additional 3,525 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Boise Cascade L.L.C. by 38.5% in the fourth quarter. Wells Fargo & Company MN now owns 743,905 shares of the company’s stock worth $18,991,000 after buying an additional 206,778 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Boise Cascade L.L.C. during the fourth quarter worth $1,288,000.
Boise Cascade Company, formerly Boise Cascade, LLC., is a plywood and engineered wood products (EWP) manufacturer and building materials distributor with operations throughout the United States. The Company’s segments include Wood Products, Building Materials Distribution, and Corporate and Other. Its Wood Products segment manufactures plywood, EWP, studs, particleboard and ponderosa pine lumber.
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