Trading Report: The Boise Cascade L.L.C. (BCC) Cut to Sell at Zacks Investment Research

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

Zacks Investment Research cut shares of Boise Cascade L.L.C. (NYSE:BCC) from a hold rating to a sell rating in a research note released on Wednesday.

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. “

A number of other equities analysts also recently commented on the company. TheStreet downgraded Boise Cascade L.L.C. from a buy rating to a hold rating in a report on Friday, September 30th. Goldman Sachs Group Inc. began coverage on Boise Cascade L.L.C. in a report on Thursday, September 22nd. They issued a buy rating and a $34.00 price objective on the stock. BMO Capital Markets downgraded Boise Cascade L.L.C. from an outperform rating to a market perform rating and set a $30.00 price objective on the stock. in a report on Monday, August 8th. Finally, Bank of America Corp. downgraded Boise Cascade L.L.C. from a buy rating to a neutral rating and set a $23.00 price objective on the stock. in a report on Friday, July 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $29.75.

Boise Cascade L.L.C. (NYSE:BCC) opened at 24.57 on Wednesday. Boise Cascade L.L.C. has a one year low of $13.80 and a one year high of $33.15. The company has a 50-day moving average price of $25.35 and a 200-day moving average price of $23.61. The firm has a market capitalization of $952.09 million, a P/E ratio of 19.70 and a beta of 1.84.

Boise Cascade L.L.C. (NYSE:BCC) last released its earnings results on Thursday, July 28th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.12. Boise Cascade L.L.C. had a return on equity of 9.37% and a net margin of 1.28%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Boise Cascade L.L.C. will post $1.47 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in shares of Boise Cascade L.L.C. by 1.0% in the second quarter. Arizona State Retirement System now owns 20,121 shares of the company’s stock valued at $462,000 after buying an additional 200 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Boise Cascade L.L.C. by 1.9% in the third quarter. First Mercantile Trust Co. now owns 11,098 shares of the company’s stock valued at $282,000 after buying an additional 205 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of Boise Cascade L.L.C. by 7.7% in the second quarter. PineBridge Investments L.P. now owns 4,915 shares of the company’s stock valued at $113,000 after buying an additional 353 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Boise Cascade L.L.C. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,444 shares of the company’s stock valued at $125,000 after buying an additional 658 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Boise Cascade L.L.C. by 1.1% in the second quarter. Mackenzie Financial Corp now owns 67,435 shares of the company’s stock valued at $1,548,000 after buying an additional 760 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Boise Cascade L.L.C. Company Profile

Boise Cascade Company, formerly Boise Cascade, LLC., is a plywood and engineered wood products (EWP) manufacturer and building materials distributor with operations throughout the United States. The Company’s segments include Wood Products, Building Materials Distribution, and Corporate and Other. Its Wood Products segment manufactures plywood, EWP, studs, particleboard and ponderosa pine lumber.

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