Boise Cascade, L.L.C. (BCC) Cut to Sell at Zacks Investment Research

Boise Cascade, L.L.C. (NYSE:BCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Several other equities research analysts have also issued reports on BCC. DA Davidson lowered shares of Boise Cascade, L.L.C. from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Tuesday, October 3rd. Bank of America Corporation downgraded shares of Boise Cascade, L.L.C. from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $36.00 in a report on Monday, October 2nd. Vertical Research downgraded shares of Boise Cascade, L.L.C. from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Wednesday, October 4th. BidaskClub upgraded shares of Boise Cascade, L.L.C. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $33.00 target price (up previously from $30.00) on shares of Boise Cascade, L.L.C. in a report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.20.

Boise Cascade, L.L.C. (BCC) traded down 0.14% during mid-day trading on Tuesday, hitting $34.65. The stock had a trading volume of 321,646 shares. The firm’s 50-day moving average is $31.88 and its 200 day moving average is $29.84. Boise Cascade, L.L.C. has a one year low of $17.80 and a one year high of $35.80. The stock has a market cap of $1.34 billion, a PE ratio of 29.12 and a beta of 2.08.

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 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 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts expect that Boise Cascade, L.L.C. will post $1.67 EPS for the current year.

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In other news, EVP Nick Stokes sold 4,227 shares of the business’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 transaction, the executive vice president now owns 63,753 shares in the company, valued at approximately $2,062,409.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kelly E. Hibbs sold 1,511 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $31.50, for a total transaction of $47,596.50. Following the transaction, the vice president now owns 25,868 shares in the company, valued at approximately $814,842. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,290 shares of company stock worth $741,616. Insiders own 1.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Boise Cascade, L.L.C. by 8.2% during the 2nd quarter. BlackRock Inc. now owns 5,291,341 shares of the construction company’s stock worth $160,857,000 after purchasing an additional 401,463 shares during the period. Vanguard Group Inc. boosted its position in shares of Boise Cascade, L.L.C. by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 3,552,414 shares of the construction company’s stock valued at $94,850,000 after acquiring an additional 213,736 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Boise Cascade, L.L.C. by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,833,301 shares of the construction company’s stock valued at $86,132,000 after acquiring an additional 405,572 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Boise Cascade, L.L.C. by 15.6% during the 2nd quarter. Macquarie Group Ltd. now owns 953,012 shares of the construction company’s stock valued at $28,972,000 after acquiring an additional 128,768 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Boise Cascade, L.L.C. by 4.0% during the 2nd quarter. State Street Corp now owns 909,705 shares of the construction company’s stock valued at $27,654,000 after acquiring an additional 34,986 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

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.

Analyst Recommendations for Boise Cascade, L.L.C. (NYSE:BCC)

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