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

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

A number of other equities research analysts also recently weighed in on BCC. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. BMO Capital Markets raised their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Loop Capital started coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Finally, Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $138.80.

Boise Cascade Trading Down 0.8 %

NYSE:BCC opened at $117.29 on Monday. The firm has a 50-day simple moving average of $135.42 and a 200-day simple moving average of $133.04. Boise Cascade has a one year low of $113.89 and a one year high of $155.42. The firm has a market cap of $4.50 billion, a P/E ratio of 11.48 and a beta of 1.58. 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 posted its earnings results 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 company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company earned $3.58 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Monday, December 2nd. Boise Cascade’s payout ratio is currently 8.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC acquired a new stake in Boise Cascade during the 2nd quarter worth about $36,000. CWM LLC grew its stake in Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after purchasing an additional 141 shares during the last quarter. Covestor Ltd increased its holdings in shares of Boise Cascade by 50.1% in the third quarter. Covestor Ltd now owns 689 shares of the construction company’s stock valued at $97,000 after purchasing an additional 230 shares during the period. Finally, KBC Group NV raised its stake in shares of Boise Cascade by 19.0% in the third quarter. KBC Group NV now owns 1,226 shares of the construction company’s stock worth $173,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.