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

Boise Cascade (NYSE:BCC) has been assigned a consensus recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $139.60.

A number of analysts have recently weighed in on BCC shares. BMO Capital Markets raised their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Loop Capital assumed coverage on shares of Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Bank of America boosted their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial increased their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Boise Cascade Price Performance

BCC stock opened at $152.50 on Tuesday. The stock has a 50-day simple moving average of $139.41 and a 200-day simple moving average of $133.00. The firm has a market cap of $5.86 billion, a P/E ratio of 14.92 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a 1 year low of $106.38 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $3.58 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. On average, equities analysts predict that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Institutional Trading of Boise Cascade

Several hedge funds have recently added to or reduced their stakes in BCC. Larson Financial Group LLC increased its stake in Boise Cascade by 23.9% during the 3rd 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 during the period. Sequoia Financial Advisors LLC boosted its holdings 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 valued at $248,000 after acquiring an additional 78 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Boise Cascade by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after acquiring an additional 113 shares during the period. Miller Howard Investments Inc. NY raised its holdings in Boise Cascade by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock worth $702,000 after purchasing an additional 124 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in 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 purchasing an additional 128 shares during the period. 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.