Brokerages Set Boise Cascade (NYSE:BCC) PT at $139.60

Boise Cascade (NYSE:BCC) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $139.60.

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. Bank of America raised their price objective on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. BMO Capital Markets upped their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th.

Boise Cascade Stock Performance

Shares of BCC stock opened at $120.63 on Friday. The company has a fifty day moving average price of $138.18 and a two-hundred day moving average price of $133.39. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The stock has a market cap of $4.63 billion, a P/E ratio of 11.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data 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 business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.58 earnings per share. As a group, equities analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.70%. Boise Cascade’s payout ratio is 8.22%.

Institutional Investors Weigh In On Boise Cascade

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in shares of Boise Cascade by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock valued at $6,285,000 after acquiring an additional 335 shares during the period. Tidal Investments LLC lifted its position in Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after purchasing an additional 12,231 shares during the period. World Investment Advisors LLC bought a new stake in Boise Cascade during the third quarter worth about $3,995,000. Sanctuary Advisors LLC grew its stake in Boise Cascade by 11.0% during the third quarter. Sanctuary Advisors LLC now owns 6,937 shares of the construction company’s stock worth $997,000 after buying an additional 686 shares in the last quarter. Finally, Invst LLC increased its holdings in Boise Cascade by 2.6% in the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds 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.