Analysts Set Boise Cascade (NYSE:BCC) Price Target at $128.50

Boise Cascade (NYSE:BCC) has been given an average recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $128.50.

BCC has been the topic of a number of recent research reports. DA Davidson cut their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets lowered their price objective on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research report on Tuesday, February 25th. Finally, Loop Capital lowered their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, February 24th.

Boise Cascade Stock Performance

Shares of BCC stock opened at $101.71 on Thursday. The business’s 50-day moving average price is $118.56 and its 200-day moving average price is $130.57. Boise Cascade has a 12 month low of $97.21 and a 12 month high of $155.42. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 10.64 and a beta of 1.67. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Equities research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.83%. Boise Cascade’s payout ratio is currently 8.79%.

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey Robert Strom sold 4,500 shares of Boise Cascade stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently modified their holdings of BCC. Norges Bank bought a new stake in shares of Boise Cascade during the fourth quarter valued at approximately $55,680,000. First Trust Advisors LP increased its holdings in shares of Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after acquiring an additional 195,773 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after acquiring an additional 121,790 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after acquiring an additional 119,103 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after acquiring an additional 84,487 shares in 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.