Boise Cascade (NYSE:BCC) Price Target Cut to $125.00 by Analysts at DA Davidson

Boise Cascade (NYSE:BCC) had its target price lowered by DA Davidson from $155.00 to $125.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the stock. Loop Capital cut their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial lowered their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $130.83.

Boise Cascade Price Performance

Shares of NYSE:BCC opened at $103.66 on Monday. Boise Cascade has a one year low of $102.27 and a one year high of $155.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 10.84 and a beta of 1.57. The firm has a 50 day simple moving average of $122.50 and a 200 day simple moving average of $132.18.

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

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be paid a $0.21 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.81%. Boise Cascade’s dividend payout ratio is currently 8.79%.

Hedge Funds Weigh In On Boise Cascade

A number of institutional investors have recently added to or reduced their stakes in BCC. Mackenzie Financial Corp boosted its stake in shares of Boise Cascade by 263.7% in the 4th quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company’s stock valued at $2,275,000 after purchasing an additional 13,879 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Boise Cascade by 3.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company’s stock worth $6,042,000 after purchasing an additional 1,471 shares during the period. Vise Technologies Inc. lifted its holdings in Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after buying an additional 100 shares during the period. Voloridge Investment Management LLC grew its stake in Boise Cascade by 80.9% in the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company’s stock worth $1,866,000 after purchasing an additional 7,021 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock worth $141,755,000 after acquiring an additional 45,010 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

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.