The Goldman Sachs Group Issues Positive Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price objective lifted by equities researchers at The Goldman Sachs Group from $81.00 to $91.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 7.19% from the company’s current price.

Several other research analysts also recently commented on BCC. DA Davidson dropped their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Zacks Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Truist Financial set a $97.00 price target on shares of Boise Cascade in a research note on Wednesday, May 6th. Finally, Bank of America lifted their price objective on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.20.

Boise Cascade Price Performance

Boise Cascade stock traded down $1.60 during mid-day trading on Wednesday, hitting $84.89. The stock had a trading volume of 148,301 shares, compared to its average volume of 430,590. Boise Cascade has a one year low of $65.00 and a one year high of $91.97. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.99 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.15 and a beta of 1.10. The firm’s 50 day moving average is $74.45 and its 200 day moving average is $76.93.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. Boise Cascade had a return on equity of 5.37% and a net margin of 1.64%.The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Boise Cascade will post 3.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the transaction, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boise Cascade

A number of large investors have recently added to or reduced their stakes in BCC. Royal Bank of Canada raised its stake in Boise Cascade by 4.0% in the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock valued at $3,404,000 after purchasing an additional 1,332 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Boise Cascade by 8.8% in the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after acquiring an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after acquiring an additional 3,883 shares in the last quarter. United Services Automobile Association acquired a new stake in Boise Cascade in the first quarter valued at $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Boise Cascade by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock valued at $19,974,000 after purchasing an additional 3,978 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.