Boise Cascade (NYSE:BCC) Hits New 1-Year High – Should You Buy?

Boise Cascade (NYSE:BCC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $154.72 and last traded at $153.15, with a volume of 70490 shares changing hands. The stock had previously closed at $143.78.

Analyst Ratings Changes

A number of research firms recently weighed in on BCC. Bank of America upped their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital began coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. BMO Capital Markets raised their price target on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial upped their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.60.

Boise Cascade Stock Up 6.1 %

The stock has a market cap of $5.86 billion, a PE ratio of 14.92 and a beta of 1.53. The business has a 50 day moving average of $139.41 and a 200-day moving average of $133.00. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last released 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). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company 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 firm posted $3.58 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts predict that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.55%. Boise Cascade’s payout ratio is currently 8.22%.

Hedge Funds Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade in the 3rd quarter valued at about $28,000. Larson Financial Group LLC purchased a new position in shares of Boise Cascade during the second quarter valued at approximately $36,000. iA Global Asset Management Inc. acquired a new stake in Boise Cascade during the first quarter worth approximately $82,000. GAMMA Investing LLC grew its stake in Boise Cascade by 33.4% in the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after acquiring an additional 197 shares during the period. Finally, CWM LLC lifted its stake in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock worth $95,000 after purchasing an additional 141 shares during the period. 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.