Brokerages Set Boise Cascade (NYSE:BCC) Target Price at $139.60

Boise Cascade (NYSE:BCC) has been given a consensus rating of “Hold” by the five research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $139.60.

Several equities analysts have issued reports on the company. BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Loop Capital initiated coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. Truist Financial increased their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America increased their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th.

Boise Cascade Stock Performance

NYSE:BCC opened at $138.43 on Friday. The firm has a market capitalization of $5.47 billion, a PE ratio of 12.07 and a beta of 1.53. The business’s fifty day moving average price is $136.14 and its 200 day moving average price is $132.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. Boise Cascade has a 12 month low of $101.82 and a 12 month high of $154.67.

Boise Cascade (NYSE:BCC) last issued 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). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.58 EPS. On average, sell-side analysts anticipate that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. Boise Cascade’s payout ratio is currently 7.32%.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds have recently added to or reduced their stakes in the company. United Capital Management of KS Inc. lifted its position in Boise Cascade by 2.8% in the third quarter. United Capital Management of KS Inc. now owns 28,976 shares of the construction company’s stock valued at $4,085,000 after purchasing an additional 792 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Boise Cascade by 13.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,122 shares of the construction company’s stock valued at $440,000 after acquiring an additional 381 shares during the period. Covestor Ltd boosted its stake in shares of Boise Cascade by 50.1% during the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after acquiring an additional 230 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Boise Cascade by 10.1% during the 3rd quarter. Assetmark Inc. now owns 54,522 shares of the construction company’s stock worth $7,687,000 after acquiring an additional 5,019 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Boise Cascade by 2.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,495 shares of the construction company’s stock worth $4,440,000 after acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Company Profile

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.