Boise Cascade (NYSE:BCC) Given Average Recommendation of “Hold” by Analysts

Shares of Boise Cascade (NYSE:BCC) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $128.50.

A number of analysts recently commented on the company. DA Davidson dropped their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Benchmark restated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. BMO Capital Markets lowered their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. Finally, Truist Financial reduced their target price on shares of Boise Cascade from $157.00 to $134.00 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 $98.28 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a 50-day moving average of $112.29 and a 200-day moving average of $127.39. Boise Cascade has a one year low of $95.33 and a one year high of $155.42. The company has a market cap of $3.73 billion, a P/E ratio of 10.28 and a beta of 1.67.

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

Boise Cascade Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Activity

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. The trade was a 10.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of the stock in a transaction 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 owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC grew its holdings in shares of Boise Cascade by 34.5% during the third quarter. Cerity Partners LLC now owns 3,897 shares of the construction company’s stock worth $549,000 after purchasing an additional 999 shares in the last quarter. Bank of Montreal Can lifted its position in 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 purchasing an additional 119,103 shares during the last quarter. FMR LLC grew its stake in Boise Cascade by 158.9% in the 3rd quarter. FMR LLC now owns 126,123 shares of the construction company’s stock worth $17,781,000 after buying an additional 77,401 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Boise Cascade by 30.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,716 shares of the construction company’s stock worth $2,921,000 after buying an additional 4,860 shares during the last quarter. Finally, Bridgewater Associates LP bought a new position in shares of Boise Cascade in the 3rd quarter worth $262,000. 96.18% of the stock is currently owned by institutional investors.

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.