Boise Cascade Co (NYSE:BCC) has been given an average rating of “Hold” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.25.
A number of analysts have commented on the company. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Friday, July 12th. Goldman Sachs Group downgraded Metcash from a “conviction-buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Zacks Investment Research downgraded General Finance from a “buy” rating to a “hold” rating in a research report on Monday.
Shares of Boise Cascade stock traded down $0.45 during trading on Friday, reaching $25.80. The company’s stock had a trading volume of 3,043 shares, compared to its average volume of 377,998. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 0.77. Boise Cascade has a 12-month low of $22.00 and a 12-month high of $47.15. The firm has a market capitalization of $1.02 billion, a P/E ratio of 11.27, a P/E/G ratio of 2.36 and a beta of 2.10. The business’s 50 day simple moving average is $25.52.
Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Tuesday, May 7th. The construction company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Boise Cascade had a positive return on equity of 11.49% and a negative net margin of 0.11%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts predict that Boise Cascade will post 1.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.40%. Boise Cascade’s payout ratio is 15.72%.
In other news, Director Kristopher J. Matula bought 3,500 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $23.12 per share, for a total transaction of $80,920.00. Following the completion of the transaction, the director now owns 14,049 shares in the company, valued at $324,812.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund purchased a new stake in Boise Cascade in the fourth quarter worth about $353,000. BlackRock Inc. boosted its position in Boise Cascade by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,215,192 shares of the construction company’s stock worth $148,233,000 after purchasing an additional 287,366 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Boise Cascade by 8.7% during the fourth quarter. Bank of New York Mellon Corp now owns 703,262 shares of the construction company’s stock worth $16,772,000 after purchasing an additional 56,217 shares in the last quarter. Texas Permanent School Fund boosted its position in Boise Cascade by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 25,462 shares of the construction company’s stock worth $607,000 after purchasing an additional 990 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Boise Cascade by 56.3% during the fourth quarter. Royce & Associates LP now owns 1,455 shares of the construction company’s stock worth $35,000 after purchasing an additional 524 shares in the last quarter. 90.82% of the stock is owned by institutional investors.
About Boise Cascade
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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