Boise Cascade (NYSE:BCC) Price Target Increased to $161.00 by Analysts at Truist Financial

Boise Cascade (NYSE:BCC) had its price objective raised by Truist Financial from $154.00 to $161.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also weighed in on BCC. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an underperform rating in a report on Thursday, September 12th. The Goldman Sachs Group lowered their price objective on shares of Boise Cascade from $140.00 to $122.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Boise Cascade from a hold rating to a buy rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $129.75.

Boise Cascade Stock Down 0.6 %

Shares of BCC stock opened at $142.17 on Tuesday. 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 one year low of $87.32 and a one year high of $154.67. The company’s fifty day moving average price is $133.63 and its 200-day moving average price is $133.65. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.56 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $3.67 earnings per share. Boise Cascade’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts expect that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.59%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. Boise Cascade’s payout ratio is presently 6.83%.

Institutional Investors Weigh In On Boise Cascade

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Boise Cascade by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after purchasing an additional 35,963 shares in the last quarter. Bridge City Capital LLC grew its position in shares of Boise Cascade by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock worth $2,802,000 after buying an additional 143 shares in the last quarter. Range Financial Group LLC increased its stake in shares of Boise Cascade by 9.7% during the first quarter. Range Financial Group LLC now owns 2,826 shares of the construction company’s stock valued at $433,000 after buying an additional 251 shares during the period. Unison Advisors LLC raised its holdings in shares of Boise Cascade by 3.9% in the first quarter. Unison Advisors LLC now owns 7,162 shares of the construction company’s stock valued at $1,098,000 after acquiring an additional 270 shares in the last quarter. Finally, DGS Capital Management LLC purchased a new stake in Boise Cascade in the first quarter worth about $227,000. Institutional investors 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.