Brokerages Set Boise Cascade (NYSE:BCC) PT at $128.50

Shares of Boise Cascade (NYSE:BCC) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $128.50.

A number of brokerages have commented on BCC. Truist Financial cut their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. DA Davidson cut their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. BMO Capital Markets lowered their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th.

Insider Buying and Selling

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the transaction, the chief operating officer now directly owns 38,026 shares of the company’s stock, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boise Cascade

Hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Boise Cascade during the 4th quarter worth $9,894,000. Mackenzie Financial Corp grew its stake 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 buying an additional 13,879 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Boise Cascade by 3.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company’s stock valued at $6,042,000 after buying an additional 1,471 shares during the period. Vise Technologies Inc. raised its position in shares of Boise Cascade by 3.4% in the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company’s stock valued at $359,000 after buying an additional 100 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of Boise Cascade by 80.9% in the 4th quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company’s stock valued at $1,866,000 after buying an additional 7,021 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Performance

BCC opened at $95.38 on Monday. The business’s 50-day simple moving average is $109.24 and its 200 day simple moving average is $126.25. Boise Cascade has a 52-week low of $89.59 and a 52-week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The firm has a market capitalization of $3.62 billion, a PE ratio of 9.98 and a beta of 1.67.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

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.