Boise Cascade (NYSE:BCC) Given Average Recommendation of “Hold” by Brokerages

Boise Cascade (NYSE:BCC) has been assigned an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities 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. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $139.60.

BCC has been the subject of several research reports. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 price target for the company. BMO Capital Markets boosted their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial increased their target price on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America boosted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th.

Hedge Funds Weigh In On Boise Cascade

A number of hedge funds have recently made changes to their positions in BCC. Dimensional Fund Advisors LP raised its holdings in Boise Cascade by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,813,447 shares of the construction company’s stock worth $335,419,000 after purchasing an additional 22,053 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after buying an additional 579,759 shares during the period. American Century Companies Inc. raised its stake in Boise Cascade by 2.4% during the second quarter. American Century Companies Inc. now owns 897,137 shares of the construction company’s stock worth $106,957,000 after buying an additional 21,030 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Boise Cascade by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after buying an additional 9,128 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in 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 valued at $45,661,000 after acquiring an additional 120,600 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Price Performance

Boise Cascade stock opened at $120.63 on Friday. 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 52 week low of $113.89 and a 52 week high of $155.42. The stock has a market capitalization of $4.63 billion, a P/E ratio of 11.80 and a beta of 1.53. The stock has a fifty day moving average of $138.18 and a 200-day moving average of $133.39.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 EPS 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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company posted $3.58 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $0.21 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.70%. Boise Cascade’s dividend payout ratio (DPR) is presently 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.