Boise Cascade (NYSE:BCC) Receives $139.60 Average PT from Brokerages

Boise Cascade (NYSE:BCC) has received an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $139.60.

A number of research firms have weighed in on BCC. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital began coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Truist Financial reduced their target price on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets lifted 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.

Boise Cascade Stock Performance

NYSE:BCC opened at $128.25 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $133.00 and its 200 day simple moving average is $133.04. The stock has a market cap of $4.92 billion, a P/E ratio of 12.55 and a beta of 1.58. Boise Cascade has a twelve month low of $113.38 and a twelve month high of $155.42.

Boise Cascade (NYSE:BCC) last announced its 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 net margin of 5.95% and a return on equity of 18.24%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $3.58 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, research analysts predict that Boise Cascade will post 9.6 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.21 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.65%. Boise Cascade’s payout ratio is presently 8.22%.

Hedge Funds Weigh In On Boise Cascade

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade in the third quarter worth about $28,000. Larson Financial Group LLC raised its holdings in Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares during the last quarter. CWM LLC raised its holdings in Boise Cascade by 26.5% in the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after acquiring an additional 141 shares during the last quarter. Covestor Ltd lifted its position in Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after acquiring an additional 230 shares in the last quarter. Finally, KBC Group NV boosted its stake in Boise Cascade by 19.0% during the 3rd quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock valued at $173,000 after purchasing an additional 196 shares during the last quarter. Institutional investors 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.