Analysts Set Boise Cascade (NYSE:BCC) Price Target at $139.60

Shares of Boise Cascade (NYSE:BCC) have been assigned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $139.60.

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

Institutional Investors Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BOKF NA grew its position in shares of Boise Cascade by 80.2% during the 1st quarter. BOKF NA now owns 2,900 shares of the construction company’s stock valued at $444,000 after purchasing an additional 1,291 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Boise Cascade by 293.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after acquiring an additional 176,738 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Boise Cascade in the 1st quarter worth about $745,000. iA Global Asset Management Inc. purchased a new stake in shares of Boise Cascade in the 1st quarter valued at about $82,000. Finally, Burney Co. bought a new stake in shares of Boise Cascade during the 1st quarter valued at about $673,000. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Down 1.4 %

BCC stock opened at $146.40 on Tuesday. The stock has a market cap of $5.62 billion, a P/E ratio of 14.32 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $140.21 and its two-hundred day simple moving average is $133.31. Boise Cascade has a 1-year low of $106.38 and a 1-year high of $155.42.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $3.58 earnings per share. Boise Cascade’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.57%. Boise Cascade’s dividend payout ratio is currently 8.22%.

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.