Boise Cascade Co (BCC) is Downgraded by BofA/Merrill to Neutral

Boise Cascade Co (BCC) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 1, 2016.

On the company’s financial health, Boise Cascade Co reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.01. The company had revenue of $880.70 million for the quarter, compared to analysts expectations of $825.29 million. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Boise Cascade Co opened for trading at $21.24 and hit $21.67 on the upside on Wednesday, eventually ending the session at $21.2, with a gain of 1.10% or 0.23 points. The heightened volatility saw the trading volume jump to 3,16,372 shares. Company has a market cap of $822 M.

In a different news, on Feb 22, 2016, Kelly E. Hibbs (VP and Controller) purchased 1,500 shares at $14.18 per share price. According to the SEC, on Aug 6, 2015, Thomas Kevin Corrick (CEO) purchased 5,000 shares at $33.00 per share price. On Jul 28, 2015, Mack L Hogans (director) purchased 75 shares at $33.57 per share price, according to the Form-4 filing with the securities and exchange commission.

Boise Cascade Company is a plywood and engineered wood products (EWP) manufacturer and building materials distributor. The Company’s segments include Wood Products and Building Materials Distribution. Its Wood Products segment manufactures plywood EWP studs particleboard and ponderosa pine lumber. Its Building Materials Distribution segment is a wholesale distributor of various building materials including EWP OSB plywood lumber and general line items such as siding metal products insulation roofing and composite decking. The Company operates in the United States. The Company’s products are used in residential construction residential repair-and-remodeling projects light commercial construction and industrial applications. The Company caters to a range of retail lumberyards home improvement centers wholesalers and industrial converters among others. It also manufactures engineered wood products consisting of laminated veneer lumber (LVL) I-joists and laminated beams.

Boise Cascade Co

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