BMO Capital Markets reaffirmed their hold rating on shares of Boise Cascade, L.L.C. (NYSE:BCC) in a research note released on Thursday, July 20th. They currently have a $33.00 price target on the construction company’s stock.
Several other research firms also recently issued reports on BCC. Zacks Investment Research downgraded shares of Boise Cascade, L.L.C. from a strong-buy rating to a hold rating in a research note on Wednesday, April 26th. BidaskClub upgraded shares of Boise Cascade, L.L.C. from a hold rating to a buy rating in a research note on Thursday, June 15th. TheStreet upgraded shares of Boise Cascade, L.L.C. from a c rating to a b rating in a research note on Friday, May 5th. Finally, Bank of America Corporation upgraded shares of Boise Cascade, L.L.C. from a neutral rating to a buy rating and increased their target price for the stock from $32.00 to $34.00 in a research note on Tuesday, April 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $31.50.
Boise Cascade, L.L.C. (NYSE:BCC) traded up 1.18% during trading on Thursday, hitting $29.95. The company’s stock had a trading volume of 278,110 shares. The company has a 50-day moving average of $29.62 and a 200 day moving average of $28.42. The firm has a market cap of $1.15 billion, a PE ratio of 25.17 and a beta of 2.05. Boise Cascade, L.L.C. has a one year low of $17.80 and a one year high of $33.40.
Boise Cascade, L.L.C. (NYSE:BCC) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.04. Boise Cascade, L.L.C. had a net margin of 1.13% and a return on equity of 8.32%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Boise Cascade, L.L.C. will post $1.65 earnings per share for the current year.
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In related news, VP Kelly E. Hibbs sold 1,511 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $31.50, for a total value of $47,596.50. Following the completion of the sale, the vice president now owns 25,868 shares in the company, valued at $814,842. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nick Stokes sold 4,227 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $32.35, for a total transaction of $136,743.45. Following the completion of the sale, the executive vice president now owns 63,753 shares of the company’s stock, valued at approximately $2,062,409.55. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BCC. BlackRock Inc. boosted its position in shares of Boise Cascade, L.L.C. 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 during the period. Janus Henderson Group PLC bought a new position in shares of Boise Cascade, L.L.C. during the second quarter worth about $19,863,000. Public Employees Retirement Association of Colorado bought a new position in shares of Boise Cascade, L.L.C. during the second quarter worth about $15,200,000. Dimensional Fund Advisors LP boosted its position in shares of Boise Cascade, L.L.C. by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,833,301 shares of the construction company’s stock worth $86,132,000 after buying an additional 405,572 shares during the period. Finally, AJO LP bought a new position in shares of Boise Cascade, L.L.C. during the second quarter worth about $8,580,000. 97.71% of the stock is owned by institutional investors.
About Boise Cascade, L.L.C.
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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