Zacks Investment Research downgraded shares of Boise Cascade, L.L.C. (NYSE:BCC) from a hold rating to a sell rating in a report issued on Tuesday.
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. “
Other equities research analysts have also recently issued reports about the company. Vertical Research cut Boise Cascade, L.L.C. from a buy rating to a hold rating and set a $36.00 price target on the stock. in a research note on Wednesday, October 4th. BidaskClub cut Boise Cascade, L.L.C. from a hold rating to a sell rating in a research note on Thursday, July 13th. BMO Capital Markets reaffirmed a hold rating and issued a $33.00 price target on shares of Boise Cascade, L.L.C. in a research note on Thursday, July 20th. Sidoti assumed coverage on Boise Cascade, L.L.C. in a research note on Friday, September 15th. They issued a buy rating on the stock. Finally, DA Davidson cut Boise Cascade, L.L.C. from a buy rating to a neutral rating and set a $36.00 price target on the stock. in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Boise Cascade, L.L.C. has a consensus rating of Hold and an average target price of $33.20.
Shares of Boise Cascade, L.L.C. (NYSE BCC) opened at 34.90 on Tuesday. Boise Cascade, L.L.C. has a 52-week low of $17.80 and a 52-week high of $35.80. The firm has a market cap of $1.34 billion, a P/E ratio of 29.33 and a beta of 2.08. The company has a 50-day moving average of $32.43 and a 200 day moving average of $29.97.
Boise Cascade, L.L.C. (NYSE:BCC) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.04). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Boise Cascade, L.L.C. had a return on equity of 8.32% and a net margin of 1.13%. Boise Cascade, L.L.C.’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities analysts expect that Boise Cascade, L.L.C. will post $1.67 earnings per share for the current year.
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In other news, EVP Nick Stokes sold 4,227 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $32.35, for a total value of $136,743.45. Following the sale, the executive vice president now directly owns 63,753 shares of the company’s stock, valued at $2,062,409.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas E. Carlile sold 17,552 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $31.75, for a total value of $557,276.00. Following the completion of the sale, the director now directly owns 63,496 shares in the company, valued at $2,015,998. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,290 shares of company stock worth $741,616. Insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Boise Cascade, L.L.C. in the first quarter worth $110,000. Victory Capital Management Inc. grew its stake in shares of Boise Cascade, L.L.C. by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,753 shares of the construction company’s stock worth $114,000 after acquiring an additional 561 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Boise Cascade, L.L.C. in the first quarter worth $125,000. SG Americas Securities LLC purchased a new stake in shares of Boise Cascade, L.L.C. in the first quarter worth $136,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Boise Cascade, L.L.C. by 8.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,344 shares of the construction company’s stock worth $223,000 after acquiring an additional 640 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.
Boise Cascade, L.L.C. Company Profile
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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