Boise Cascade Co (NYSE:BCC) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets restated their hold rating on shares of Boise Cascade Co (NYSE:BCC) in a report released on Thursday, July 20th. BMO Capital Markets currently has a $33.00 target price on the construction company’s stock.

A number of other research firms have also recently issued reports on BCC. Zacks Investment Research cut Boise Cascade from a strong-buy rating to a hold rating in a research note on Wednesday, April 26th. BidaskClub raised Boise Cascade from a hold rating to a buy rating in a research report on Thursday, June 15th. TheStreet raised Boise Cascade from a c rating to a b rating in a research report on Friday, May 5th. Finally, Bank of America Corporation raised Boise Cascade from a neutral rating to a buy rating and upped their price objective for the stock from $32.00 to $34.00 in a research report on Tuesday, April 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $31.50.

Shares of Boise Cascade (BCC) opened at 29.60 on Thursday. The firm’s 50-day moving average price is $29.65 and its 200-day moving average price is $28.18. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 24.87 and a beta of 2.05. Boise Cascade has a 12 month low of $17.80 and a 12 month high of $33.40.

Boise Cascade (NYSE:BCC) last posted its earnings results on Thursday, July 27th. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.04. Boise Cascade had a net margin of 1.95% and a return on equity of 14.76%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Boise Cascade will post $1.65 earnings per share for the current year.

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In related news, EVP Nick Stokes sold 4,227 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $32.35, for a total transaction of $136,743.45. Following the sale, the executive vice president now owns 63,753 shares of the company’s stock, valued at $2,062,409.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kelly E. Hibbs sold 1,511 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $31.50, for a total value of $47,596.50. Following the sale, the vice president now directly owns 25,868 shares in the company, valued at approximately $814,842. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of BCC. BlackRock Inc. increased its stake in shares of Boise Cascade by 38,826.0% in the first quarter. BlackRock Inc. now owns 4,889,878 shares of the construction company’s stock worth $130,560,000 after buying an additional 4,877,316 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Boise Cascade by 6.4% in the first quarter. Vanguard Group Inc. now owns 3,552,414 shares of the construction company’s stock worth $94,850,000 after buying an additional 213,736 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Boise Cascade by 10.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,427,729 shares of the construction company’s stock worth $64,820,000 after buying an additional 231,077 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Boise Cascade by 2.1% in the first quarter. Frontier Capital Management Co. LLC now owns 2,376,038 shares of the construction company’s stock worth $63,440,000 after buying an additional 47,746 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its stake in shares of Boise Cascade by 7.3% in the first quarter. Peregrine Capital Management LLC now owns 1,075,077 shares of the construction company’s stock worth $29,296,000 after buying an additional 73,338 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

About Boise Cascade

Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.




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