Boise Cascade (NYSE:BCC) Given Average Rating of “Hold” by Brokerages

Shares of Boise Cascade (NYSE:BCC) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $139.60.

BCC has been the topic of several recent research reports. Loop Capital assumed coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. BMO Capital Markets lifted their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial boosted their price target on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America increased their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th.

Institutional Investors Weigh In On Boise Cascade

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in shares of Boise Cascade by 341.9% during the third quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after acquiring an additional 12,231 shares during the last quarter. Algert Global LLC lifted its stake in Boise Cascade by 8.3% in the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 6,059 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Boise Cascade by 2.1% during 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 purchasing an additional 9,128 shares during the last quarter. Seven Eight Capital LP grew its position in shares of Boise Cascade by 31.6% during the second quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Boise Cascade by 56.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock worth $12,570,000 after purchasing an additional 32,303 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 0.2 %

NYSE:BCC opened at $122.75 on Friday. The company has a 50 day simple moving average of $139.84 and a two-hundred day simple moving average of $133.63. The company has a market cap of $4.71 billion, a PE ratio of 12.01 and a beta of 1.53. 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 has a 12 month low of $113.89 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.58 EPS. Research analysts forecast that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

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.