Short Interest in Boise Cascade (NYSE:BCC) Increases By 19.5%

Boise Cascade (NYSE:BCC) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,150,000 shares, an increase of 19.5% from the December 31st total of 962,300 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 269,000 shares, the short-interest ratio is currently 4.3 days.

Analyst Upgrades and Downgrades

BCC has been the topic of several recent analyst reports. Truist Financial dropped their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. BMO Capital Markets boosted their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Loop Capital assumed coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.60.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its position in Boise Cascade by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Boise Cascade by 4.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after buying an additional 78 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Boise Cascade by 7.3% during the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after buying an additional 128 shares in the last quarter. Invst LLC raised its position in Boise Cascade by 2.6% during the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after buying an additional 128 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock worth $388,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Down 1.8 %

Shares of Boise Cascade stock traded down $2.30 on Friday, reaching $126.36. 287,165 shares of the company were exchanged, compared to its average volume of 259,032. Boise Cascade has a fifty-two week low of $113.38 and a fifty-two week high of $155.42. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 12.36 and a beta of 1.58. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $130.39 and a 200-day moving average price of $133.63.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. Boise Cascade’s quarterly revenue was down 6.6% on a year-over-year basis. On average, analysts expect that Boise Cascade will post 9.6 EPS for the current year.

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.