Boise Cascade L.L.C. (BCC) Trading Up 2.6%
Shares of Boise Cascade L.L.C. (NYSE:BCC) shot up 2.6% during trading on Monday . The company traded as high as $24.70 and last traded at $24.46, with a volume of 786,668 shares traded. The stock had previously closed at $23.85.
A number of brokerages have commented on BCC. BMO Capital Markets cut Boise Cascade L.L.C. from an “outperform” rating to a “market perform” rating and set a $30.00 price target for the company. in a research report on Monday, August 8th. Zacks Investment Research raised Boise Cascade L.L.C. from a “sell” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research report on Tuesday, August 2nd. TheStreet raised Boise Cascade L.L.C. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Finally, Bank of America Corp. cut Boise Cascade L.L.C. from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, July 1st. They noted that the move was a valuation call.
The stock’s 50-day moving average is $25.86 and its 200 day moving average is $21.74. The company has a market capitalization of $964.88 million and a price-to-earnings ratio of 19.97.
Boise Cascade L.L.C. (NYSE:BCC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. The company earned $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Equities analysts expect that Boise Cascade L.L.C. will post $1.47 earnings per share for the current year.
Several hedge funds recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in shares of Boise Cascade L.L.C. during the fourth quarter valued at about $1,288,000. Wells Fargo & Company MN boosted its stake 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 valued at $18,991,000 after buying an additional 206,778 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake 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 valued at $1,213,000 after buying an additional 3,525 shares during the last quarter.
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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