Boise Cascade (NYSE:BCC) Now Covered by Loop Capital

Loop Capital began coverage on shares of Boise Cascade (NYSE:BCC) in a research report released on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $155.00 target price on the construction company’s stock.

A number of other equities research analysts have also commented on BCC. Truist Financial upped their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets upped their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group lowered their price target on 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 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 three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Stock Up 0.0 %

Shares of BCC opened at $134.26 on Friday. Boise Cascade has a 1 year low of $101.82 and a 1 year high of $154.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The stock has a 50 day simple moving average of $136.09 and a two-hundred day simple moving average of $132.47. The firm has a market cap of $5.30 billion, a P/E ratio of 11.71 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $3.67 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts forecast that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.63%. Boise Cascade’s dividend payout ratio (DPR) is 7.32%.

Institutional Trading of Boise Cascade

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade in the third quarter worth about $28,000. Larson Financial Group LLC bought a new position in shares of Boise Cascade during the second quarter valued at $36,000. iA Global Asset Management Inc. bought a new position in Boise Cascade in the 1st quarter worth about $82,000. Daiwa Securities Group Inc. grew its position in Boise Cascade by 500.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock valued at $92,000 after purchasing an additional 500 shares during the last quarter. Finally, CWM LLC increased its stake in Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 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.