The Goldman Sachs Group Cuts Boise Cascade (NYSE:BCC) Price Target to $126.00

Boise Cascade (NYSE:BCC) had its price target trimmed by The Goldman Sachs Group from $145.00 to $126.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

A number of other analysts have also weighed in on BCC. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Loop Capital began coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. BMO Capital Markets boosted their price objective on shares of 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, Truist Financial decreased their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Up 1.0 %

Shares of BCC stock opened at $128.49 on Tuesday. The company has a market capitalization of $4.93 billion, a P/E ratio of 12.57 and a beta of 1.58. Boise Cascade has a 12-month low of $113.38 and a 12-month high of $155.42. 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 has a 50-day moving average price of $133.28 and a 200 day moving average price of $132.96.

Boise Cascade (NYSE:BCC) last posted its 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). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.58 EPS. Research analysts forecast that Boise Cascade will post 9.6 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 dividend on an annualized basis and a dividend yield of 0.65%. Boise Cascade’s payout ratio is 8.22%.

Institutional Trading of Boise Cascade

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in shares of Boise Cascade by 13.9% during the second quarter. Envestnet Asset Management Inc. now owns 116,181 shares of the construction company’s stock worth $13,851,000 after buying an additional 14,139 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Boise Cascade by 8.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 31,939 shares of the construction company’s stock valued at $3,808,000 after purchasing an additional 2,527 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Boise Cascade by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock valued at $335,419,000 after purchasing an additional 22,053 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Boise Cascade by 7.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 30,992 shares of the construction company’s stock worth $3,717,000 after purchasing an additional 2,258 shares in the last quarter. Finally, Seven Eight Capital LP boosted its holdings in Boise Cascade by 31.6% during the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock worth $2,134,000 after purchasing an additional 4,300 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.