Boise Cascade (NYSE:BCC) Price Target Cut to $126.00 by Analysts at The Goldman Sachs Group

Boise Cascade (NYSE:BCC) had its target price decreased by The Goldman Sachs Group from $145.00 to $126.00 in a report released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

BCC has been the topic of a number of other reports. Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. Truist Financial lowered their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets boosted their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Price Performance

BCC opened at $123.40 on Tuesday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 12.07 and a beta of 1.58. The stock has a fifty day moving average of $133.82 and a 200-day moving average of $133.03. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $113.38 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC) last announced 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 business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company posted $3.58 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. Equities analysts forecast that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.68%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s payout ratio is 8.22%.

Institutional Trading of Boise Cascade

A number of institutional investors and hedge funds have recently made changes to their positions in BCC. Burney Co. lifted its holdings in Boise Cascade by 14.1% in the 4th quarter. Burney Co. now owns 7,488 shares of the construction company’s stock worth $890,000 after purchasing an additional 927 shares during the last quarter. Fulcrum Capital LLC acquired a new stake in shares of Boise Cascade in the fourth quarter worth $1,092,000. Oliver Luxxe Assets LLC lifted its stake in shares of Boise Cascade by 5.4% in the fourth quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company’s stock worth $4,882,000 after buying an additional 2,097 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares during the period. Finally, Franklin Resources Inc. grew its stake in Boise Cascade by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock valued at $6,285,000 after buying an additional 335 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.