Boise Cascade, L.L.C. (NYSE:BCC) Lowered to “Hold” at BidaskClub

BidaskClub downgraded shares of Boise Cascade, L.L.C. (NYSE:BCC) from a buy rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also recently issued reports about the company. TheStreet raised Boise Cascade, L.L.C. from a c rating to a b rating in a research note on Friday, May 5th. Zacks Investment Research raised Boise Cascade, L.L.C. from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Tuesday, April 4th. Bank of America Corporation raised Boise Cascade, L.L.C. from a neutral rating to a buy rating and increased their target price for the stock from $32.00 to $34.00 in a research note on Tuesday, April 4th. Finally, BMO Capital Markets reissued a hold rating and issued a $30.00 target price on shares of Boise Cascade, L.L.C. in a research note on Wednesday, April 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $31.50.

Shares of Boise Cascade, L.L.C. (NYSE:BCC) traded down 0.783% during trading on Friday, reaching $28.525. The company’s stock had a trading volume of 165,868 shares. Boise Cascade, L.L.C. has a one year low of $17.80 and a one year high of $33.40. The stock’s 50 day moving average is $28.71 and its 200 day moving average is $27.16. The firm has a market cap of $1.10 billion, a P/E ratio of 25.698 and a beta of 2.06.

Boise Cascade, L.L.C. (NYSE:BCC) last released its earnings results on Wednesday, May 3rd. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.17. Boise Cascade, L.L.C. had a return on equity of 8.01% and a net margin of 1.08%. The firm had revenue of $974.40 million for the quarter, compared to analysts’ expectations of $966.82 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Boise Cascade, L.L.C. will post $1.78 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Boise Cascade, L.L.C. during the first quarter worth about $110,000. State of Alaska Department of Revenue increased its position in shares of Boise Cascade, L.L.C. by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 4,250 shares of the construction company’s stock worth $113,000 after buying an additional 60 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Boise Cascade, L.L.C. during the first quarter worth about $125,000. SG Americas Securities LLC acquired a new position in shares of Boise Cascade, L.L.C. during the first quarter worth about $136,000. Finally, First Interstate Bank increased its position in shares of Boise Cascade, L.L.C. by 26.6% in the first quarter. First Interstate Bank now owns 6,280 shares of the construction company’s stock worth $168,000 after buying an additional 1,320 shares during the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

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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