Boise Cascade (NYSE:BCC) Given New $126.00 Price Target at The Goldman Sachs Group

Boise Cascade (NYSE:BCC) had its target price reduced by analysts at The Goldman Sachs Group from $145.00 to $126.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 4.69% from the company’s previous close.

BCC has been the subject of several other research reports. Truist Financial cut their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective for the company. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets boosted their target price on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Price Performance

Boise Cascade stock opened at $120.35 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The company has a market capitalization of $4.62 billion, a PE ratio of 11.78 and a beta of 1.58. Boise Cascade has a one year low of $113.38 and a one year high of $155.42. The business has a 50 day simple moving average of $134.12 and a 200 day simple moving average of $133.00.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. Boise Cascade’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.58 EPS. On average, sell-side analysts forecast that Boise Cascade will post 9.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Boise Cascade

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC grew its stake in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after acquiring an additional 73 shares during the period. CWM LLC grew its stake in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after acquiring an additional 141 shares during the period. Covestor Ltd grew its stake in Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after acquiring an additional 230 shares during the period. Finally, KBC Group NV grew its stake in Boise Cascade by 19.0% in the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after acquiring an additional 196 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.