Brokerages Set Boise Cascade, L.L.C. (NYSE:BCC) Target Price at $102.50

Boise Cascade, L.L.C. (NYSE:BCC) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $102.50.

A number of equities research analysts recently commented on BCC shares. DA Davidson reaffirmed a “buy” rating and set a $95.00 price objective on shares of Boise Cascade in a research note on Thursday, November 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a report on Monday, December 1st. BMO Capital Markets upgraded Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Truist Financial decreased their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, September 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caxton Associates LLP acquired a new stake in shares of Boise Cascade in the first quarter valued at about $1,402,000. Intech Investment Management LLC raised its holdings in Boise Cascade by 13.4% during the first quarter. Intech Investment Management LLC now owns 41,941 shares of the construction company’s stock worth $4,114,000 after acquiring an additional 4,963 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Boise Cascade by 12.5% during the second quarter. Public Employees Retirement System of Ohio now owns 39,811 shares of the construction company’s stock valued at $3,456,000 after purchasing an additional 4,414 shares during the last quarter. Strs Ohio bought a new position in Boise Cascade in the first quarter valued at approximately $1,069,000. Finally, American Century Companies Inc. increased its position in shares of Boise Cascade by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after purchasing an additional 55,052 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Down 1.6%

Shares of NYSE BCC opened at $71.85 on Friday. Boise Cascade has a fifty-two week low of $65.14 and a fifty-two week high of $147.43. The firm has a market capitalization of $2.66 billion, a P/E ratio of 14.20, a P/E/G ratio of 6.04 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. The company’s 50 day simple moving average is $72.39 and its 200 day simple moving average is $81.36.

Boise Cascade (NYSE:BCC) last released its earnings results on Monday, November 3rd. The construction company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 EPS. On average, analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Boise Cascade’s payout ratio is 17.39%.

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.