BMO Capital Markets Has Lowered Expectations for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC) had its price target decreased by BMO Capital Markets from $136.00 to $122.00 in a research report sent to investors on Tuesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial decreased their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a report on Monday. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital decreased their price target on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. Finally, Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $128.50.

Boise Cascade Price Performance

Shares of BCC opened at $106.52 on Tuesday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 11.14 and a beta of 1.57. Boise Cascade has a twelve month low of $102.27 and a twelve month high of $155.42. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $121.97 and a two-hundred day moving average of $132.03.

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

Boise Cascade Dividend Announcement

The firm 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 dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.79%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCC. Larson Financial Group LLC increased its holdings in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock valued at $53,000 after buying an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Boise Cascade by 4.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock worth $248,000 after acquiring an additional 78 shares during the period. Vise Technologies Inc. raised its position in shares of Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock worth $359,000 after acquiring an additional 100 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of Boise Cascade by 7.3% in the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock worth $267,000 after acquiring an additional 128 shares during the period. Finally, Invst LLC raised its position in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company’s stock worth $713,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.