Boise Cascade (NYSE:BCC) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Boise Cascade (NYSE:BCC) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on BCC. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a 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 report on Wednesday, August 5th. Loop Capital lowered Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research report on Monday, October 26th. Bank of America lowered their target price on Boise Cascade from $89.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 14th. Finally, DA Davidson upped 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. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has an average rating of “Hold” and an average target price of $92.00.

Boise Cascade Trading Down 4.5%

Shares of NYSE BCC opened at $75.28 on Friday. The business’s 50 day moving average price is $76.30 and its 200-day moving average price is $77.24. Boise Cascade has a fifty-two week low of $65.00 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 0.97 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, November 2nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, sell-side analysts expect that Boise Cascade will post 3.86 earnings per share for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, December 1st. Boise Cascade’s payout ratio is 31.19%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares in the company, valued at approximately $2,008,423. This represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of Boise Cascade stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following 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 position. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Covestor Ltd raised its stake in shares of Boise Cascade by 162.5% in the third quarter. Covestor Ltd now owns 504 shares of the construction company’s stock worth $38,000 after purchasing an additional 312 shares during the last quarter. Nykredit A S purchased a new stake in Boise Cascade in the second quarter valued at approximately $69,000. Signaturefd LLC increased its holdings in Boise Cascade by 16.3% in the 3rd quarter. Signaturefd LLC now owns 1,000 shares of the construction company’s stock worth $74,000 after buying an additional 140 shares during the period. GAMMA Investing LLC increased its holdings in Boise Cascade by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,164 shares of the construction company’s stock worth $86,000 after buying an additional 186 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Boise Cascade by 309.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,431 shares of the construction company’s stock worth $180,000 after buying an additional 1,837 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Company Profile

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.