Brokerages Set Boise Cascade (NYSE:BCC) Target Price at $139.60

Shares of Boise Cascade (NYSE:BCC) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $139.60.

A number of analysts have recently commented on BCC shares. The Goldman Sachs Group cut their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets boosted their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial reduced their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company.

Institutional Trading of Boise Cascade

Large investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after purchasing an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares in the last quarter. Fulcrum Capital LLC acquired a new position in shares of Boise Cascade during the 4th quarter valued at $1,092,000. Allspring Global Investments Holdings LLC boosted its stake in Boise Cascade by 56.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock worth $12,570,000 after acquiring an additional 32,303 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Boise Cascade by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after purchasing an additional 5,779 shares during the period. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Up 1.1 %

Shares of BCC opened at $121.93 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a 52 week low of $113.38 and a 52 week high of $155.42. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.93 and a beta of 1.57. The stock has a fifty day moving average of $125.58 and a 200-day moving average of $132.79.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 annualized dividend and a yield of 0.69%. Boise Cascade’s payout ratio is 8.22%.

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.