Boise Cascade (NYSE:BCC) Price Target Lowered to $157.00 at Truist Financial

Boise Cascade (NYSE:BCC) had its price target cut by Truist Financial from $161.00 to $157.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the stock. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 target price for the company. BMO Capital Markets upped their price objective 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. Bank of America raised their target price on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Finally, StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.80.

Boise Cascade Stock Performance

NYSE BCC opened at $117.29 on Monday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 11.48 and a beta of 1.58. The stock has a 50-day simple moving average of $135.42 and a two-hundred day simple moving average of $133.04. 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 fifty-two week low of $113.89 and a fifty-two week high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly 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 company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business posted $3.58 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that Boise Cascade will post 9.57 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s payout ratio is 8.22%.

Hedge Funds Weigh In On Boise Cascade

Hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. boosted its stake in shares of Boise Cascade by 107.7% in the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after acquiring an additional 579,759 shares during the last quarter. Marshall Wace LLP boosted its stake in Boise Cascade by 2,978.4% during the 2nd quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after purchasing an additional 184,841 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Boise Cascade by 46.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after buying an additional 120,600 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after buying an additional 119,103 shares in the last quarter. Finally, FMR LLC raised its position in shares of Boise Cascade by 158.9% in the third quarter. FMR LLC now owns 126,123 shares of the construction company’s stock valued at $17,781,000 after buying an additional 77,401 shares during the last quarter. Institutional investors and hedge funds 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.