Boise Cascade, L.L.C. (NYSE:BCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, July 31st.
According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
BCC has been the subject of several other research reports. TheStreet raised shares of Boise Cascade, L.L.C. from a “c” rating to a “b” rating in a report on Friday, May 5th. Bank of America Corporation raised shares of Boise Cascade, L.L.C. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $32.00 to $34.00 in a report on Tuesday, April 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $30.00 target price on shares of Boise Cascade, L.L.C. in a report on Wednesday, April 12th. Finally, BidaskClub cut shares of Boise Cascade, L.L.C. from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Boise Cascade, L.L.C. has an average rating of “Hold” and a consensus price target of $31.50.
Boise Cascade, L.L.C. (NYSE:BCC) opened at 28.80 on Monday. Boise Cascade, L.L.C. has a 52-week low of $17.80 and a 52-week high of $33.40. The firm’s 50-day moving average is $29.60 and its 200-day moving average is $28.58. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 24.20 and a beta of 2.05.
Boise Cascade, L.L.C. (NYSE:BCC) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Boise Cascade, L.L.C. had a net margin of 1.13% and a return on equity of 8.32%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. Analysts forecast that Boise Cascade, L.L.C. will post $1.65 EPS for the current fiscal year.
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In other news, VP Kelly E. Hibbs sold 1,511 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 25,868 shares in the company, valued at approximately $814,842. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nick Stokes sold 4,227 shares of Boise Cascade, L.L.C. stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $32.35, for a total transaction of $136,743.45. Following the sale, the executive vice president now directly owns 63,753 shares in the company, valued at $2,062,409.55. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in 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 last quarter. Janus Henderson Group PLC acquired a new stake in Boise Cascade, L.L.C. during the second quarter worth $19,863,000. Public Employees Retirement Association of Colorado acquired a new stake in Boise Cascade, L.L.C. during the second quarter worth $15,200,000. Dimensional Fund Advisors LP raised its stake in 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 last quarter. Finally, AJO LP acquired a new stake in Boise Cascade, L.L.C. during the second quarter worth $8,580,000. 97.71% of the stock is currently owned by hedge funds and other 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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