Boise Cascade Company (Boise Cascade) (NYSE: BCC) announced today the permanent curtailment of its I-joist production facility in Roxboro, North Carolina. The shutdown will affect approximately 29 employees. The company anticipates discontinuing production by the end of Q1 2020, though inventory shipment may continue into Q3 before all operations cease.
“The I-line team has worked diligently and safely every day. However, costs at Roxboro are not where they need to be in comparison to other Boise Cascade mills. That fact, in conjunction with the single-family housing market trends, have led us to this difficult decision,” said Chris Seymour, Vice President of Manufacturing Operations.
“We understand the effect this closing has on our employees and their families. We are making them aware of employee assistance resources as well as job openings within the company.”
“Boise Cascade (NYSE: BCC) will continue to serve our customers and meet projected demand through our other southeastern region mills,” said Seymour. “We remain committed to our core businesses of engineered wood products (EWP) and plywood.”
Boise Cascade (NYSE: BCC), saw its stock trade 40.95 common shares, a pop compared to its 10-day trading volume of 267.74k.Boise Cascade Company (BCC) stock is quoted at $40.95, up 0.38 cents or +0.94% on the day.Total Revenue for Boise Cascade (NYSE: BCC) is $4.61B. Gross Profit is $687.7M and the EBITDA is $186.77M.
The average 10-day trading volume of Boise Cascade Company (BCC) is 267.74k compared to 257.66k over the last 3 months which indicates a pop in trading activity. Right now, Boise Cascade Company (BCC) has a 50-day moving average of $37.82 and a 200-day moving average of $35.16. These moving averages are popular technical statistics that investors use to analyze price trends of Boise Cascade Company (BCC).
BCC has short term rating of Bullish (0.48), Intermediate rating of Bullish (0.35) and the long-term rating of Neutral (0.18) giving it an overall rating of Bullish (0.34).
BCC is trading 90.06% off its 52 week low at $21.55 and -0.46% off its 52 week high of $41.14. Performance wise, BCC stock has recently shown investors 6.01% a pop in a week, 8.42% a pop in a month and 10.57% a pop in the past quarter.
More importantly, Boise Cascade Company (BCC) has shown a return of 12.10% since the 1st of this year.
Boise Cascade Company (BCC) is a small-cap company with a market cap value of $1.596B. BCC insiders hold roughly 1.29% of the shares.On Nov-08-19 DA Davidson Downgrade BCC as Buy → Neutral at $40. On Nov-11-19 Vertical Research Downgrade BCC as Buy → Hold and on Feb-05-20 The Benchmark Company Initiated BCC as Hold.
BCC last 2 years revenues have decreased from $4,995,290 to $4,607,496 showing a downtrend.
Wall Street expects Boise Cascade Company (BCC) to report an EPS next Qtr profit of 0.20 and a profit of 20.11% next year.
The growth rate on BCC this year is -20.52 compared to an industry 13.20. BCCs next year’s growth rate is 19.23 compared to an industry 6.80.
About Boise Cascade Company (BCC):
Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho.