Boise Cascade, L.L.C. (NYSE:BCC) Receives $93.60 Consensus PT from Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has been given a consensus rating of “Hold” by the seven analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $93.60.

A number of research firms have commented on BCC. The Goldman Sachs Group upped their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Truist Financial set a $97.00 price objective on Boise Cascade in a research report on Wednesday, May 6th. DA Davidson boosted their target price on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Finally, Bank of America raised their price target on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th.

Boise Cascade Trading Down 1.7%

NYSE:BCC opened at $81.84 on Thursday. The firm has a market capitalization of $2.86 billion, a P/E ratio of 27.74, a P/E/G ratio of 1.12 and a beta of 1.10. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $77.18 and a 200 day moving average of $76.92. Boise Cascade has a 52 week low of $65.00 and a 52 week high of $91.97.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. On average, research analysts predict that Boise Cascade will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s payout ratio is presently 29.83%.

Insider Buying and Selling

In other news, Director Kristopher J. Matula sold 1,930 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently modified their holdings of BCC. Caitong International Asset Management Co. Ltd lifted its holdings in Boise Cascade by 231.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after buying an additional 259 shares during the period. Fifth Third Bancorp boosted its position in shares of Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after purchasing an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Boise Cascade in the third quarter worth $38,000. UMB Bank n.a. grew its stake in Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock worth $39,000 after purchasing an additional 260 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in Boise Cascade in the third quarter worth $44,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.