Boise Cascade (NYSE:BCC) Given New $157.00 Price Target at Truist Financial

Boise Cascade (NYSE:BCC) had its price target cut by Truist Financial from $161.00 to $157.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities analysts also recently commented on BCC. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Bank of America increased their price target on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets boosted their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Loop Capital assumed coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $138.80.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $120.29 on Monday. The company’s fifty day moving average is $135.69 and its two-hundred day moving average is $133.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The firm has a market capitalization of $4.62 billion, a P/E ratio of 11.77 and a beta of 1.58. Boise Cascade has a one year low of $113.89 and a one 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 (EPS) 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 business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $3.58 earnings per share. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Analysts forecast that Boise Cascade will post 9.57 EPS for the current fiscal 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 given 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 0.70%. Boise Cascade’s payout ratio is 8.22%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Boise Cascade by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after purchasing an additional 78 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Boise Cascade by 7.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after purchasing an additional 128 shares during the period. Invst LLC boosted its position in Boise Cascade by 2.6% during the 3rd quarter. Invst LLC now owns 5,060 shares of the construction company’s stock valued at $713,000 after purchasing an additional 128 shares during the period. Finally, Bank of Montreal Can grew its stake in Boise Cascade by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.