BMO Capital Markets reissued their hold rating on shares of Boise Cascade, L.L.C. (NYSE:BCC) in a research report released on Thursday, July 20th. The firm currently has a $33.00 target price on the construction company’s stock.
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Boise Cascade, L.L.C. from a hold rating to a sell rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Boise Cascade, L.L.C. from a hold rating to a strong-buy rating and set a $34.00 target price for the company in a research report on Monday, May 8th. Bank of America Corporation raised shares of Boise Cascade, L.L.C. from a neutral rating to a buy rating and raised their target price for the stock from $32.00 to $34.00 in a research report on Tuesday, April 4th. Finally, TheStreet raised shares of Boise Cascade, L.L.C. from a c rating to a b rating in a research report on Friday, May 5th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $31.50.
Boise Cascade, L.L.C. (NYSE:BCC) last posted its earnings results on Thursday, July 27th. The construction company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.04. Boise Cascade, L.L.C. had a return on equity of 8.32% and a net margin of 1.13%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis.
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In related news, EVP Nick Stokes sold 4,227 shares of Boise Cascade, L.L.C. stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $32.35, for a total transaction of $136,743.45. Following the completion of the transaction, the executive vice president now directly owns 63,753 shares of the company’s stock, valued at approximately $2,062,409.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Kelly E. Hibbs sold 1,511 shares of Boise Cascade, L.L.C. stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $31.50, for a total transaction of $47,596.50. Following the transaction, the vice president now directly owns 25,868 shares of the company’s stock, valued at $814,842. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BCC. Russell Investments Group Ltd. purchased a new stake in Boise Cascade, L.L.C. during the fourth quarter worth $811,000. Comerica Bank raised its stake in Boise Cascade, L.L.C. by 5.8% in the fourth quarter. Comerica Bank now owns 41,305 shares of the construction company’s stock worth $1,020,000 after buying an additional 2,249 shares in the last quarter. State Street Corp raised its stake in Boise Cascade, L.L.C. by 8.6% in the fourth quarter. State Street Corp now owns 832,807 shares of the construction company’s stock worth $18,746,000 after buying an additional 66,190 shares in the last quarter. Norges Bank purchased a new stake in Boise Cascade, L.L.C. during the fourth quarter worth $4,621,000. Finally, Macquarie Group Ltd. raised its stake in Boise Cascade, L.L.C. by 10.8% in the fourth quarter. Macquarie Group Ltd. now owns 727,820 shares of the construction company’s stock worth $16,376,000 after buying an additional 71,071 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.
About Boise Cascade, L.L.C.
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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