Boise Cascade, L.L.C. (NYSE:BCC) Stock Has Average Target Price of $93.60

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have received an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $93.60.

BCC has been the topic of several recent research reports. DA Davidson lifted their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. The Goldman Sachs Group raised their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Bank of America lifted their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th.

Boise Cascade Stock Performance

Shares of BCC opened at $75.03 on Friday. The firm’s 50 day moving average is $79.08 and its 200-day moving average is $75.88. The stock has a market capitalization of $2.62 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. Boise Cascade has a 12-month low of $65.00 and a 12-month high of $91.97.

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

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 1st. This is a boost from Boise Cascade’s previous quarterly dividend of $0.22. Boise Cascade’s dividend payout ratio is presently 31.19%.

Insider Activity

In other Boise Cascade news, Director Kristopher Matula sold 1,930 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction 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 represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the transaction, the senior vice president owned 25,295 shares of the company’s stock, valued at approximately $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boise Cascade

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Boise Cascade in the 2nd quarter worth approximately $463,729,000. Dimensional Fund Advisors LP raised its stake in Boise Cascade by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock valued at $176,410,000 after purchasing an additional 46,561 shares during the period. State Street Corp raised its stake in Boise Cascade by 2.8% during the 2nd quarter. State Street Corp now owns 1,497,224 shares of the construction company’s stock valued at $116,229,000 after purchasing an additional 41,324 shares during the period. Norges Bank purchased a new stake in shares of Boise Cascade in the fourth quarter valued at $42,146,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Boise Cascade by 10.4% in the fourth quarter. Verition Fund Management LLC now owns 458,192 shares of the construction company’s stock valued at $33,723,000 after purchasing an additional 43,255 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company is a manufacturer of wood products and a wholesale distributor of building materials. The company serves residential and commercial construction markets, as well as industrial and remodeling customers, primarily in the United States.

Through its Wood Products segment, Boise Cascade manufactures engineered wood products such as laminated veneer lumber, I-joists, laminated beams, plywood and related structural panels. These products are used in floors, roofs, walls and other structural applications.