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

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

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

Boise Cascade Stock Down 0.4 %

Shares of BCC opened at $141.61 on Tuesday. The business’s 50 day moving average is $134.64 and its 200 day moving average is $133.73. The company has a market capitalization of $5.59 billion, a PE ratio of 11.51 and a beta of 1.52. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.16. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $3.67 EPS. Research analysts expect that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.21 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Boise Cascade’s payout ratio is 6.83%.

Hedge Funds Weigh In On Boise Cascade

Institutional investors and hedge funds have recently modified their holdings of the stock. UniSuper Management Pty Ltd purchased a new position in shares of Boise Cascade in the 1st quarter worth approximately $1,055,000. Algert Global LLC boosted its holdings in shares of Boise Cascade by 8.3% in the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 6,059 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Boise Cascade by 80.2% in the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after purchasing an additional 10,467 shares during the period. Burney Co. purchased a new position in shares of Boise Cascade in the 1st quarter worth approximately $673,000. Finally, Seven Eight Capital LP boosted its holdings in shares of Boise Cascade by 31.6% in the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock worth $2,134,000 after purchasing an additional 4,300 shares during the period. Hedge funds and other 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.