Boise Cascade (NYSE:BCC) Price Target Raised to $136.00

Boise Cascade (NYSE:BCC) had its price objective raised by BMO Capital Markets from $130.00 to $136.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a market perform rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial boosted their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $135.75.

Boise Cascade Stock Performance

NYSE BCC opened at $136.97 on Tuesday. The company has a fifty day moving average price of $135.59 and a 200-day moving average price of $133.24. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 11.14 and a beta of 1.52. 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 1 year low of $87.32 and a 1 year high of $154.67.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data 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 firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $3.67 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts predict 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. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Tuesday, September 3rd. Boise Cascade’s payout ratio is currently 6.83%.

Hedge Funds Weigh In On Boise Cascade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCC. Nisa Investment Advisors LLC lifted its stake in shares of Boise Cascade by 59.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,390 shares of the construction company’s stock valued at $1,606,000 after buying an additional 4,267 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Boise Cascade by 14.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 57,778 shares of the construction company’s stock valued at $8,107,000 after acquiring an additional 7,421 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Boise Cascade during the third quarter worth $215,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Boise Cascade by 4.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after acquiring an additional 78 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Boise Cascade by 56.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock valued at $12,570,000 after purchasing an additional 32,303 shares in the last quarter. 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.