Boise Cascade (NYSE:BCC) Stock Rating Upgraded by Wall Street Zen

Boise Cascade (NYSE:BCC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

BCC has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Truist Financial raised their price objective on Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. The Goldman Sachs Group boosted their price objective on Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson reiterated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a research report on Tuesday, February 24th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Boise Cascade presently has a consensus rating of “Moderate Buy” and an average price target of $105.67.

Boise Cascade Stock Down 1.2%

Shares of NYSE BCC opened at $82.63 on Friday. The company has a current ratio of 3.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 23.47 and a beta of 1.26. Boise Cascade has a 12 month low of $65.14 and a 12 month high of $106.41. The stock has a 50-day moving average price of $82.08 and a two-hundred day moving average price of $78.85.

Hedge Funds Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Fund Management S.A. bought a new stake in shares of Boise Cascade during the 2nd quarter valued at about $2,342,000. AlphaQuest LLC lifted its stake in Boise Cascade by 131.5% in the third quarter. AlphaQuest LLC now owns 35,873 shares of the construction company’s stock valued at $2,774,000 after buying an additional 20,378 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Boise Cascade by 10.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 175,031 shares of the construction company’s stock worth $13,533,000 after buying an additional 16,270 shares in the last quarter. ARGA Investment Management LP bought a new position in shares of Boise Cascade during the 3rd quarter worth approximately $1,499,000. Finally, American Century Companies Inc. grew its position in shares of Boise Cascade by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after buying an additional 55,052 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.