Truist Financial Cuts Boise Cascade (NYSE:BCC) Price Target to $134.00

Boise Cascade (NYSE:BCC) had its price target reduced by Truist Financial from $157.00 to $134.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital dropped their target price on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group dropped their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, DA Davidson dropped their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Trading Down 2.3 %

BCC opened at $104.03 on Monday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 10.88 and a beta of 1.57. Boise Cascade has a 52 week low of $102.27 and a 52 week high of $155.42. The business’s 50 day moving average is $121.52 and its two-hundred day moving average is $131.84. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

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

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.81%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insider Activity at Boise Cascade

In related news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred 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 sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

A number of institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its position in Boise Cascade by 263.7% during the fourth quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company’s stock worth $2,275,000 after purchasing an additional 13,879 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Boise Cascade by 3.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company’s stock worth $6,042,000 after purchasing an additional 1,471 shares in the last quarter. Vise Technologies Inc. raised its holdings 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 last quarter. Voloridge Investment Management LLC increased its stake in Boise Cascade by 80.9% in the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company’s stock valued at $1,866,000 after purchasing an additional 7,021 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Boise Cascade by 3.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after purchasing an additional 45,010 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other 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.