Boise Cascade (NYSE:BCC) Given New $136.00 Price Target at BMO Capital Markets

Boise Cascade (NYSE:BCC) had its price objective boosted by BMO Capital Markets from $130.00 to $136.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a market perform rating on the construction company’s stock.

Several other brokerages have also issued reports on BCC. Truist Financial upped their target price 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. StockNews.com upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Bank of America upped their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Boise Cascade presently has an average rating of “Hold” and an average price target of $135.75.

Boise Cascade Stock Performance

Shares of BCC opened at $136.97 on Tuesday. Boise Cascade has a 12-month low of $87.32 and a 12-month high of $154.67. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.41 billion, a PE ratio of 11.14 and a beta of 1.52. The stock has a 50-day moving average price of $135.59 and a 200-day moving average price of $133.24.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.16. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $3.67 earnings per share. Boise Cascade’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.61%. Boise Cascade’s dividend payout ratio is currently 6.83%.

Hedge Funds Weigh In On Boise Cascade

A number of large investors have recently bought and sold shares of the stock. DGS Capital Management LLC purchased a new stake in shares of Boise Cascade during the first quarter valued at approximately $227,000. Measured Wealth Private Client Group LLC grew its holdings in Boise Cascade by 1.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after acquiring an additional 95 shares during the last quarter. Monument Capital Management bought a new stake in Boise Cascade in the 1st quarter worth $234,000. United Capital Management of KS Inc. increased its position in shares of Boise Cascade by 3.8% in the first quarter. United Capital Management of KS Inc. now owns 27,798 shares of the construction company’s stock valued at $4,263,000 after acquiring an additional 1,014 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of Boise Cascade in the first quarter worth about $204,000. 96.18% of the stock is owned by hedge funds and other 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.