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

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

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

Boise Cascade Price Performance

NYSE BCC opened at $120.29 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90. The firm has a market capitalization of $4.62 billion, a PE ratio of 11.77 and a beta of 1.58. The company’s 50 day simple moving average is $135.69 and its 200 day simple moving average is $133.07. Boise Cascade has a 12 month low of $113.89 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.58 earnings per share. As a group, equities research analysts forecast that Boise Cascade will post 9.57 EPS for the current fiscal 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.70%. Boise Cascade’s payout ratio is 8.22%.

Institutional Trading of Boise Cascade

A number of hedge funds have recently bought and sold shares of BCC. Larson Financial Group LLC grew its position in Boise Cascade by 23.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after buying an additional 73 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in 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 purchasing an additional 78 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Boise Cascade by 7.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after buying an additional 128 shares during the period. Invst LLC lifted its holdings in shares of Boise Cascade by 2.6% during the 3rd 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. Finally, Bank of Montreal Can raised its position in Boise Cascade by 1.9% in the second quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock worth $890,000 after purchasing an additional 137 shares in the last quarter. 96.18% of the stock is owned by 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.