Boise Cascade (NYSE:BCC) Receives Consensus Recommendation of “Hold” from Analysts

Boise Cascade (NYSE:BCC) has been given an average recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat 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 1 year price target among analysts that have issued a report on the stock in the last year is $139.60.

A number of research analysts recently commented on BCC shares. Bank of America upped their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Truist Financial upped their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Loop Capital initiated coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd.

Boise Cascade Price Performance

BCC stock opened at $138.43 on Friday. 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 business has a 50 day simple moving average of $136.14 and a 200-day simple moving average of $132.51. The firm has a market capitalization of $5.47 billion, a PE ratio of 12.07 and a beta of 1.53. Boise Cascade has a 1 year low of $101.82 and a 1 year high of $154.67.

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 analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. Boise Cascade’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $3.58 earnings per share. Equities research analysts anticipate that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 7.32%.

Institutional Trading of Boise Cascade

Several hedge funds have recently modified their holdings of BCC. Westwood Holdings Group Inc. raised its stake in shares of Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after acquiring an additional 579,759 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock valued at $22,777,000 after acquiring an additional 184,841 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after acquiring an additional 176,738 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Boise Cascade by 46.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock valued at $45,661,000 after acquiring an additional 120,600 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Boise Cascade by 76.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock valued at $13,517,000 after acquiring an additional 38,173 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

About Boise Cascade

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.