BMC Stock (NASDAQ:BMCH) Lifted to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of BMC Stock (NASDAQ:BMCH) from a sector perform rating to an outperform rating in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has $29.00 target price on the stock, up from their prior target price of $25.00.

BMCH has been the topic of a number of other reports. Buckingham Research increased their target price on BMC Stock from $26.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Evercore ISI raised BMC Stock from an in-line rating to an outperform rating in a research note on Friday, August 9th. BidaskClub cut BMC Stock from a buy rating to a hold rating in a research note on Saturday, October 12th. Zacks Investment Research raised BMC Stock from a hold rating to a strong-buy rating and set a $29.00 target price on the stock in a research note on Friday, August 9th. Finally, SunTrust Banks set a $25.00 target price on BMC Stock and gave the stock a hold rating in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $25.09.

NASDAQ BMCH opened at $28.41 on Tuesday. BMC Stock has a 12 month low of $14.66 and a 12 month high of $28.59. The stock has a market cap of $1.87 billion, a P/E ratio of 15.27 and a beta of 0.90. The stock’s fifty day moving average price is $25.67 and its 200-day moving average price is $22.59. The company has a current ratio of 2.35, a quick ratio of 1.53 and a debt-to-equity ratio of 0.48.

BMC Stock (NASDAQ:BMCH) last released its earnings results on Tuesday, August 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. BMC Stock had a return on equity of 14.38% and a net margin of 3.31%. The firm had revenue of $946.38 million for the quarter, compared to analysts’ expectations of $934.39 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts forecast that BMC Stock will post 1.68 earnings per share for the current fiscal year.

In related news, insider Lisa M. Hamblet sold 40,096 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.01, for a total transaction of $1,002,800.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl R. Vertuca, Jr. sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $23.50, for a total value of $470,000.00. The disclosure for this sale can be found here. Insiders have sold 105,133 shares of company stock worth $2,607,781 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can bought a new position in BMC Stock in the second quarter valued at about $2,701,000. Parametric Portfolio Associates LLC lifted its holdings in BMC Stock by 29.8% in the second quarter. Parametric Portfolio Associates LLC now owns 165,514 shares of the company’s stock valued at $3,509,000 after acquiring an additional 37,965 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in BMC Stock by 103.7% in the second quarter. Public Employees Retirement System of Ohio now owns 60,215 shares of the company’s stock valued at $1,277,000 after acquiring an additional 30,659 shares during the period. Marshall Wace North America L.P. bought a new position in BMC Stock in the first quarter valued at about $246,000. Finally, Renaissance Technologies LLC lifted its holdings in BMC Stock by 315.7% in the second quarter. Renaissance Technologies LLC now owns 573,700 shares of the company’s stock valued at $12,162,000 after acquiring an additional 435,700 shares during the period. 98.85% of the stock is currently owned by institutional investors.

About BMC Stock

BMC Stock Holdings, Inc distributes lumber and building materials to new construction, and repair and remodeling contractors in the United States. Its products comprise structural components, such as floor and roof trusses, wall panels, and engineered wood products; lumber and lumber sheet goods, including dimensional lumber, plywood, and oriented strand board products used in on-site house framing under the Ready-Frame brand; and millwork, doors, and windows comprising interior and exterior doors, windows, interior trims, custom millworks, moldings, stairs and stair parts, and cabinetry and other products.

Recommended Story: Return on Equity (ROE)

Analyst Recommendations for BMC Stock (NASDAQ:BMCH)

Receive News & Ratings for BMC Stock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BMC Stock and related companies with MarketBeat.com's FREE daily email newsletter.