Boise Cascade (NYSE:BCC) Receives $139.60 Consensus Target Price from Brokerages

Boise Cascade (NYSE:BCC) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $139.60.

A number of research firms recently commented on BCC. BMO Capital Markets upped their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. 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 report on Thursday, September 12th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial increased their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Loop Capital assumed coverage on Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price on the stock.

Boise Cascade Stock Up 0.8 %

Shares of NYSE:BCC opened at $123.19 on Friday. The stock has a market capitalization of $4.73 billion, a P/E ratio of 12.05 and a beta of 1.53. The stock’s 50-day moving average price is $139.04 and its 200-day moving average price is $133.54. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $113.89 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results 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). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business earned $3.58 earnings per share. Boise Cascade’s revenue was down 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. Boise Cascade’s dividend payout ratio is presently 8.22%.

Institutional Trading of Boise Cascade

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

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.