Boise Cascade (NYSE:BCC) Receives Average Rating of “Hold” from Analysts

Shares of Boise Cascade (NYSE:BCC) have received an average rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $139.60.

BCC has been the topic of several recent analyst reports. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Loop Capital began 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 on the stock. Truist Financial lifted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Bank of America increased their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently made changes to their positions in BCC. Franklin Resources Inc. lifted its position in Boise Cascade by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock valued at $6,285,000 after acquiring an additional 335 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Boise Cascade by 341.9% in the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Boise Cascade in the third quarter worth approximately $3,995,000. Sanctuary Advisors LLC lifted its holdings in shares of Boise Cascade by 11.0% in the third quarter. Sanctuary Advisors LLC now owns 6,937 shares of the construction company’s stock valued at $997,000 after purchasing an additional 686 shares in the last quarter. Finally, Invst LLC boosted its position in shares of Boise Cascade by 2.6% during the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after buying an additional 128 shares during the last quarter. 96.18% of the stock is owned by institutional investors.

Boise Cascade Trading Up 0.8 %

NYSE:BCC opened at $147.60 on Tuesday. Boise Cascade has a 52 week low of $106.38 and a 52 week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The firm’s fifty day moving average is $140.45 and its 200-day moving average is $133.48. The firm has a market cap of $5.67 billion, a P/E ratio of 14.45 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $3.58 EPS. Equities analysts expect that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

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.