Brokerages Set Boise Cascade (NYSE:BCC) PT at $139.60

Shares of Boise Cascade (NYSE:BCC) have earned an average rating of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $139.60.

A number of brokerages have recently issued reports on BCC. Loop Capital initiated coverage on Boise Cascade in a report on Friday, November 1st. They set a “buy” rating and a $155.00 price target on the stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Bank of America lifted their price target on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Truist Financial increased their price objective on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their target price 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.

Hedge Funds Weigh In On Boise Cascade

A number of institutional investors have recently bought and sold shares of BCC. Tidal Investments LLC raised its stake in Boise Cascade by 341.9% during the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after acquiring an additional 12,231 shares during the period. Algert Global LLC increased its stake in shares of Boise Cascade by 8.3% in the second quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 6,059 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Boise Cascade by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after purchasing an additional 9,128 shares during the period. Seven Eight Capital LP lifted its stake in shares of Boise Cascade by 31.6% during the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after buying an additional 4,300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Boise Cascade by 56.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 89,163 shares of the construction company’s stock worth $12,570,000 after buying an additional 32,303 shares during the period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Stock Up 0.8 %

Shares of Boise Cascade stock opened at $123.19 on Friday. The company has a 50-day simple moving average of $139.04 and a two-hundred day simple moving average of $133.54. The stock has a market capitalization of $4.73 billion, a PE ratio of 12.05 and a beta of 1.53. Boise Cascade has a 52-week low of $113.89 and a 52-week high of $155.42. 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 (NYSE:BCC) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $3.58 earnings per share. Boise Cascade’s revenue was down 6.6% on a year-over-year basis. On average, analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s payout ratio is 8.22%.

Boise Cascade Company Profile

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.