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

Boise Cascade (NYSE:BCC) has been given an average rating of “Hold” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $139.60.

Several research firms have weighed in on BCC. BMO Capital Markets raised their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Bank of America upped 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. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. Finally, StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Trading of Boise Cascade

Several institutional investors have recently made changes to their positions in BCC. Harbor Capital Advisors Inc. acquired a new stake in Boise Cascade during the third quarter worth about $28,000. Larson Financial Group LLC purchased a new position in Boise Cascade in the second quarter valued at approximately $36,000. iA Global Asset Management Inc. acquired a new position in Boise Cascade during the first quarter valued at approximately $82,000. CWM LLC grew its stake in Boise Cascade by 26.5% during the third quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after buying an additional 141 shares during the period. Finally, Covestor Ltd increased its position in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock worth $97,000 after acquiring an additional 230 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Up 6.1 %

Shares of Boise Cascade stock opened at $152.50 on Tuesday. The company has a 50-day moving average of $139.41 and a two-hundred day moving average of $133.00. Boise Cascade has a 12-month low of $106.38 and a 12-month high of $155.42. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.86 billion, a PE ratio of 14.92 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data 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 firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm posted $3.58 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

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.