Boise Cascade, L.L.C. (NYSE:BCC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $98.00.

BCC has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Zacks Research upgraded shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. DA Davidson reduced their price objective on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research note on Wednesday, May 6th.

Boise Cascade Trading Down 0.6%

Shares of Boise Cascade stock opened at $68.83 on Friday. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.03 and a beta of 1.09. The company has a quick ratio of 1.37, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. Boise Cascade has a 12-month low of $65.00 and a 12-month high of $95.00. The firm’s 50-day moving average price is $74.39 and its two-hundred day moving average price is $76.84.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share. On average, analysts forecast that Boise Cascade will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. Boise Cascade’s payout ratio is 29.73%.

Insider Activity

In related news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares of the company’s stock, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dayah Capital LLC bought a new stake in shares of Boise Cascade during the 1st quarter valued at approximately $379,000. Amundi grew its holdings in shares of Boise Cascade by 24.2% during the 1st quarter. Amundi now owns 8,910 shares of the construction company’s stock valued at $676,000 after purchasing an additional 1,734 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Boise Cascade by 25.6% during the 1st quarter. California State Teachers Retirement System now owns 43,419 shares of the construction company’s stock valued at $3,293,000 after purchasing an additional 8,850 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Boise Cascade by 38.1% during the 1st quarter. Quantinno Capital Management LP now owns 20,879 shares of the construction company’s stock valued at $1,584,000 after purchasing an additional 5,759 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Boise Cascade during the 1st quarter valued at approximately $4,412,000. 96.18% of the stock is owned by institutional investors.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.