Boise Cascade (NYSE:BCC) Research Coverage Started at Loop Capital

Loop Capital assumed coverage on shares of Boise Cascade (NYSE:BCC) in a report published on Friday, Marketbeat reports. The firm issued a buy rating and a $155.00 target price on the construction company’s stock.

A number of other research firms have also weighed in on BCC. Bank of America raised their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group dropped their target price 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. StockNews.com raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Trading Up 0.9 %

Shares of BCC opened at $134.21 on Friday. Boise Cascade has a 12 month low of $99.11 and a 12 month high of $154.67. The stock’s 50-day moving average is $136.09 and its two-hundred day moving average is $132.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The stock has a market cap of $5.30 billion, a PE ratio of 11.70 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company posted $3.67 EPS. Boise Cascade’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts forecast that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.63%. Boise Cascade’s payout ratio is 7.32%.

Institutional Investors Weigh In On Boise Cascade

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Boise Cascade by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock valued at $335,419,000 after purchasing an additional 22,053 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Boise Cascade by 107.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock valued at $133,278,000 after buying an additional 579,759 shares during the last quarter. American Century Companies Inc. raised its stake in Boise Cascade by 2.4% during the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock worth $106,957,000 after acquiring an additional 21,030 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in Boise Cascade by 46.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after acquiring an additional 120,600 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock valued at $36,346,000 after acquiring an additional 176,738 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

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.