StockNews.com equity research analysts stated, in a research note published on Thursday, that they will begin following the shares of Boise Cascade (NYSE: BCC).
The construction company’s stock was recommended to be purchased by the company, and they gave it a “buy” rating.
BCC shares officially started trading for the first time on Thursday for $61.58 per share.
The price of a share of Boise Cascade has been as low as $55.14 over the past year, while it has reached a high of $85.17 during the same period.
Although the current ratio is 3.78 and the quick ratio is 2.23, the debt-to-equity, current, and quick ratios all equal 2.50.
The company has a total market capitalization of $2.43 billion, a price-to-earnings ratio of 2.85, and a beta value of 1.54.
The ratio of its price to its earnings is 2.85.
The stock’s price has reached $71.29 on its simple moving average for the past 50 days, while the price has reached $68.05 on its simple moving average for the past 200 days.
The outcomes of the most recent quarterly earnings report were disclosed by Boise Cascade (NYSE: BCC) on February 22nd.
The construction company’s most recent quarterly earnings came in at $2.95 per share, $0.02 less than market analysts’ consensus prediction of $2.97 per share.
The percentages for Boise Cascade were as follows for its net margin and return on equity: 10.23% and 46.02%, respectively.
Despite predictions made by analysts that the company would bring in $1.78 billion in revenue during the quarter, the corporation was only successful in bringing in $1.63 billion in revenue.
The company reported a profit of $4.26 per share during the same period in the prior year’s financial statements.
The company’s sales for its most recent quarter were 8.6% lower than for the year before.
Earnings per share for the current fiscal year are anticipated to come in at $8.2 for Boise Cascade, based on the estimates provided by analysts.
Due to recent occurrences, hedge funds and institutional investors have modified their company stock holdings and taken new positions.
The total amount of CoreCap Advisors LLC’s investment in Boise Cascade was equal to the company’s full amount after the firm made an additional investment of approximately $28,000 during the fourth quarter.
During the second quarter, Neo Ivy Capital Management purchased approximately $25,000 worth of shares of Boise Cascade, thereby making a new investment in the company.
Through the course of the third quarter, Ronald Blue Trust INC was able to achieve a 119.8 percent increase in the proportion of Boise Cascade stock that it owned.
As a result of purchasing an additional 248 shares during the most recent fiscal quarter, Ronald Blue Trust INC now has a total of 455 shares of the construction company’s stock.
Each share of this stock has a market value of $27,000, and the total value of Ronald Blue Trust INC’s stock holdings is $27,000.
During the final three months of 2018, Dark Forest Capital Management LP saw a 12,950.0% increase in the quantity of Boise Cascade stock it owned.
Dark Forest Capital Management LP now has 522 shares of the construction company’s stock, currently valued at $36,000, after purchasing an additional 518 shares during the most recent quarter. C.M.
Bidwell & Associates Ltd purchased approximately 33 thousand dollars worth of additional Boise Cascade shares during the third quarter.
This is the last, but not the least, point.
The majority of the shares in the company are owned by institutional investors and hedge funds, which account for 92.78 percent of the total.
The Boise Cascade Company is engaged in producing and selling plywood and other engineered wood products (EWP).
The distribution of wood products and the provision of building materials and supplies are the two primary areas of commercial concentration for the company (BMD).
The Wood Products division manufactures and distributes engineered wood products, ponderosa pine lumber, plywood, particleboard, and studs, among other types of wood products.