Will Boise Cascade Company (NYSE:BCC) Run Out of Steam Soon? Short Interest is Up

December 8, 2017 - By Hazel Jackson

 Will Boise Cascade Company (NYSE:BCC) Run Out of Steam Soon? Short Interest is Up

Investors sentiment increased to 1.19 in 2017 Q2. Its up 0.08, from 1.11 in 2017Q1. It is positive, as 19 investors sold Boise Cascade Company shares while 49 reduced holdings. 25 funds opened positions while 56 raised stakes. 36.52 million shares or 2.69% more from 35.57 million shares in 2017Q1 were reported.
Bnp Paribas Arbitrage Sa reported 101,758 shares or 0.01% of all its holdings. Invesco Ltd reported 481,524 shares. Great West Life Assurance Can holds 57,086 shares or 0% of its portfolio. First Mercantile owns 9,760 shares. Victory Capital Mngmt accumulated 0% or 3,753 shares. Glenmede Tru Com Na accumulated 1.00 million shares. 26,095 were reported by Us Bank & Trust De. Tci Wealth Advsr accumulated 59 shares. Sg Americas Limited Liability Corporation reported 0% in Boise Cascade Company (NYSE:BCC). Pdt Partners Lc holds 0.15% or 123,600 shares. Guggenheim Cap Ltd Liability stated it has 0.01% in Boise Cascade Company (NYSE:BCC). Ameritas Inv Prtn invested 0% in Boise Cascade Company (NYSE:BCC). Int Gru reported 28,956 shares or 0% of all its holdings. Blackrock owns 0.01% invested in Boise Cascade Company (NYSE:BCC) for 5.29M shares. Pnc Gru Incorporated holds 0% of its portfolio in Boise Cascade Company (NYSE:BCC) for 1,470 shares.

The stock of Boise Cascade Company (NYSE:BCC) registered an increase of 6.22% in short interest. BCC’s total short interest was 1.25M shares in December as published by FINRA. Its up 6.22% from 1.17 million shares, reported previously. With 353,600 shares average volume, it will take short sellers 4 days to cover their BCC’s short positions. The short interest to Boise Cascade Company’s float is 3.27%.

The stock increased 2.43% or $0.95 during the last trading session, reaching $40. About 696,697 shares traded or 31.25% up from the average. Boise Cascade Company (NYSE:BCC) has risen 24.71% since December 8, 2016 and is uptrending. It has outperformed by 8.01% the S&P500.

Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. The company has market cap of $1.54 billion. The Company’s Wood Products segment makes 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 lumber, studs, and particleboards. It has a 22.98 P/E ratio. This segmentÂ’s products are used primarily in new residential construction, residential repair-and-remodeling markets, and light commercial construction.

Boise Cascade Company (NYSE:BCC) Ratings Coverage

Among 6 analysts covering Boise Cascade (NYSE:BCC), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Boise Cascade has $50.0 highest and $25 lowest target. $38.25’s average target is -4.38% below currents $40 stock price. Boise Cascade had 16 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Bank of America given on Friday, July 1. As per Monday, October 2, the company rating was downgraded by Bank of America. Goldman Sachs initiated the stock with “Buy” rating in Thursday, September 22 report. The firm has “Hold” rating by BMO Capital Markets given on Wednesday, October 11. The stock of Boise Cascade Company (NYSE:BCC) has “Hold” rating given on Wednesday, October 4 by Vertical Research. The firm earned “Buy” rating on Tuesday, April 4 by Bank of America. Sidoti initiated the shares of BCC in report on Friday, September 15 with “Buy” rating. The stock of Boise Cascade Company (NYSE:BCC) earned “Outperform” rating by BMO Capital Markets on Friday, February 19. The rating was maintained by BMO Capital Markets on Friday, June 9 with “Hold”. The rating was maintained by BMO Capital Markets on Thursday, September 7 with “Hold”.

Another recent and important Boise Cascade Company (NYSE:BCC) news was published by Wsj.com which published an article titled: “John Fery Slimmed Boise Cascade Down to Core Wood and Paper Lines” on March 03, 2017.

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