Boise Cascade (NYSE:BCC) Given New $134.00 Price Target at Truist Financial

Boise Cascade (NYSE:BCC) had its price objective reduced by Truist Financial from $157.00 to $134.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also commented on the company. Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. DA Davidson cut their price target on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday. Finally, StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $130.83.

Boise Cascade Trading Down 3.1 %

BCC opened at $103.66 on Monday. The company has a market cap of $3.98 billion, a P/E ratio of 10.84 and a beta of 1.57. 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 company’s 50 day moving average is $122.50 and its 200-day moving average is $132.18. Boise Cascade has a 1-year low of $102.27 and a 1-year high of $155.42.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 16.89%. Equities research analysts predict that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Institutional Investors Weigh In On Boise Cascade

Institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in shares of Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after purchasing an additional 73 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Boise Cascade by 4.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after buying an additional 78 shares during the last quarter. Vise Technologies Inc. lifted its stake in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after acquiring an additional 100 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Boise Cascade by 7.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after buying an additional 128 shares during the last quarter. Finally, Invst LLC grew its holdings in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after acquiring an additional 128 shares in 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.