Analysts Set Boise Cascade (NYSE:BCC) PT at $128.50

Shares of Boise Cascade (NYSE:BCC) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $128.50.

Several equities analysts have recently issued reports on BCC shares. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. BMO Capital Markets lowered their price target on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a report on Tuesday, February 25th. DA Davidson reduced their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Loop Capital decreased their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, Truist Financial dropped their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, February 24th.

Insider Buying and Selling

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now directly owns 13,099 shares of the company’s stock, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC grew its holdings in shares of Boise Cascade by 34.5% in the 3rd quarter. Cerity Partners LLC now owns 3,897 shares of the construction company’s stock worth $549,000 after acquiring an additional 999 shares during the period. Bank of Montreal Can raised its holdings in Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares during the last quarter. FMR LLC boosted its position in Boise Cascade by 158.9% during the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after purchasing an additional 77,401 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Boise Cascade by 30.7% in the third quarter. BNP Paribas Financial Markets now owns 20,716 shares of the construction company’s stock valued at $2,921,000 after purchasing an additional 4,860 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in Boise Cascade in the third quarter valued at $262,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Trading Up 3.2 %

BCC opened at $102.03 on Monday. Boise Cascade has a 52 week low of $95.30 and a 52 week high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $110.55 and a 200-day simple moving average of $126.75. The firm has a market cap of $3.87 billion, a P/E ratio of 10.67 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. On average, equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.82%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

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.