Boise Cascade L.L.C. (NYSE:BCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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 reports. TheStreet upgraded Boise Cascade L.L.C. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 price target on shares of Boise Cascade L.L.C. in a research report on Friday, July 29th. Goldman Sachs Group Inc. assumed coverage on Boise Cascade L.L.C. in a research report on Thursday, September 22nd. They issued a “buy” rating and a $34.00 price target for the company. Finally, Bank of America Corp. cut Boise Cascade L.L.C. from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, July 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Boise Cascade L.L.C. currently has an average rating of “Hold” and a consensus price target of $29.75.
Boise Cascade L.L.C. (NYSE:BCC) traded up 2.34% during trading on Wednesday, reaching $24.97. The company’s stock had a trading volume of 271,796 shares. The stock has a 50-day moving average price of $25.35 and a 200 day moving average price of $23.55. Boise Cascade L.L.C. has a 52-week low of $13.80 and a 52-week high of $33.15. The company has a market cap of $967.59 million, a PE ratio of 20.02 and a beta of 1.84.
Boise Cascade L.L.C. (NYSE:BCC) last released its earnings results on Thursday, July 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.12. Boise Cascade L.L.C. had a return on equity of 9.37% and a net margin of 1.28%. The business earned $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect that Boise Cascade L.L.C. will post $1.47 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in Boise Cascade L.L.C. by 14.0% in the second quarter. GSA Capital Partners LLP now owns 143,300 shares of the company’s stock valued at $3,289,000 after buying an additional 17,556 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Boise Cascade L.L.C. during the first quarter valued at approximately $3,357,000. Adage Capital Partners GP L.L.C. boosted its position in Boise Cascade L.L.C. by 24.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,500,000 shares of the company’s stock valued at $31,080,000 after buying an additional 299,000 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in Boise Cascade L.L.C. during the first quarter valued at approximately $7,266,000. Finally, Loomis Sayles & Co. L P acquired a new position in Boise Cascade L.L.C. during the first quarter valued at approximately $106,000. Institutional investors and hedge funds own 93.86% of the company’s stock.
Boise Cascade L.L.C. Company Profile
Boise Cascade Company, formerly Boise Cascade, LLC., is a plywood and engineered wood products (EWP) manufacturer and building materials distributor with operations throughout the United States. The Company’s segments include Wood Products, Building Materials Distribution, and Corporate and Other. Its Wood Products segment manufactures plywood, EWP, studs, particleboard and ponderosa pine lumber.
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