Boise Cascade (NYSE:BCC) Price Target Raised to $161.00

Boise Cascade (NYSE:BCC) had its price objective boosted by Truist Financial from $154.00 to $161.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts also recently commented on BCC. The Goldman Sachs Group reduced their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Finally, StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has a consensus rating of “Hold” and an average target price of $129.75.

Boise Cascade Trading Down 3.3 %

NYSE:BCC opened at $142.08 on Tuesday. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67. The firm’s fifty day moving average is $134.33 and its 200-day moving average is $133.67. The firm has a market cap of $5.61 billion, a P/E ratio of 11.55 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.16. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 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 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 EPS. Equities analysts expect that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently declared 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. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 0.59%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s payout ratio is 6.83%.

Institutional Trading of Boise Cascade

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Boise Cascade by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock worth $609,192,000 after buying an additional 35,963 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Boise Cascade by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after acquiring an additional 22,053 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Boise Cascade by 107.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after acquiring an additional 579,759 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Boise Cascade by 2.4% in the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock valued at $106,957,000 after purchasing an additional 21,030 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Boise Cascade by 46.0% during 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 purchasing an additional 120,600 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.