Boise Cascade (NYSE:BCC) Shares Down 5.3% – Should You Sell?

Shares of Boise Cascade (NYSE:BCC) were down 5.3% during trading on Tuesday . The company traded as low as $130.14 and last traded at $131.25. Approximately 69,263 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 307,803 shares. The stock had previously closed at $138.62.

Analysts Set New Price Targets

A number of analysts recently commented on BCC shares. Truist Financial lifted their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Bank of America lifted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Boise Cascade presently has an average rating of “Hold” and an average target price of $135.75.

Boise Cascade Stock Performance

The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.25 billion, a PE ratio of 10.93 and a beta of 1.52. The firm’s fifty day moving average price is $136.11 and its two-hundred day moving average price is $132.66.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.16. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 EPS. As a group, equities research analysts forecast that Boise Cascade will post 9.71 EPS for the current year.

Institutional Investors Weigh In On Boise Cascade

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd purchased a new stake in Boise Cascade in the 1st quarter worth $1,055,000. Algert Global LLC increased its holdings in Boise Cascade by 8.3% in the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after acquiring an additional 6,059 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Boise Cascade by 80.2% in the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after acquiring an additional 10,467 shares in the last quarter. Burney Co. purchased a new stake in Boise Cascade in the 1st quarter worth $673,000. Finally, Seven Eight Capital LP increased its holdings in Boise Cascade by 31.6% in the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock worth $2,134,000 after acquiring an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.