Zacks Investment Research upgraded shares of BMC Stock (NASDAQ:BMCH) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $23.00 target price on the stock.
According to Zacks, “BMC Stock Holdings Inc provides diversified building products and services to professional builders and contractors primarily in the residential housing market. The Company’s portfolio of products and services spans building materials includes millwork and structural component manufacturing capabilities, consultative showrooms and design centers, value-added installation management and eBusiness platform. BMC Stock Holdings, Inc., formerly known as Stock Building Supply Holdings, is headquartered in Raleigh, North Carolina. “
A number of other brokerages also recently issued reports on BMCH. BidaskClub raised shares of BMC Stock from a buy rating to a strong-buy rating in a report on Wednesday, December 27th. B. Riley downgraded shares of BMC Stock from a buy rating to a neutral rating and increased their price target for the stock from $25.00 to $26.00 in a report on Wednesday, January 3rd. American Capital Partners reissued a neutral rating and issued a $26.00 price target (up from $25.00) on shares of BMC Stock in a report on Friday, January 5th. TheStreet raised shares of BMC Stock from a c rating to a b- rating in a report on Friday, December 1st. Finally, Royal Bank of Canada reissued a buy rating and issued a $26.00 price target on shares of BMC Stock in a report on Wednesday, November 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $23.88.
In related news, insider Keith Costello acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were bought at an average cost of $23.13 per share, for a total transaction of $346,950.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Gene Rea sold 73,779 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $23.00, for a total transaction of $1,696,917.00. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BMCH. Zions Bancorporation bought a new position in shares of BMC Stock in the third quarter worth approximately $110,000. Ameritas Investment Partners Inc. increased its position in shares of BMC Stock by 20.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,748 shares of the company’s stock worth $126,000 after purchasing an additional 989 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of BMC Stock in the fourth quarter worth approximately $202,000. Paloma Partners Management Co bought a new position in shares of BMC Stock in the fourth quarter worth approximately $208,000. Finally, Aperio Group LLC bought a new position in shares of BMC Stock in the third quarter worth approximately $209,000.
About BMC Stock
BMC Stock Holdings, Inc is a provider of building products and services in the United States residential construction market. The Company’s segments include Mid-Atlantic, Southeast, Texas, Intermountain, Western and Mountain West divisions. Its product offerings include lumber and lumber sheet goods and an array of products, including millwork, doors, windows, structural components, floor and roof trusses and wall panels.
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