Boise Cascade, L.L.C. (NYSE:BCC) Given Average Rating of “Hold” by Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has been given an average rating of “Hold” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $98.00.

A number of research analysts recently commented on the stock. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Zacks Research upgraded shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial set a $97.00 price target on shares of Boise Cascade in a research note on Wednesday. DA Davidson decreased their price target 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. Finally, Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BCC. Salomon & Ludwin LLC acquired a new position in Boise Cascade in the 3rd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its position in shares of Boise Cascade by 231.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after purchasing an additional 450 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Boise Cascade during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Stock Down 2.9%

Boise Cascade stock opened at $70.62 on Tuesday. The firm has a market capitalization of $2.49 billion, a PE ratio of 23.86, a P/E/G ratio of 1.06 and a beta of 1.15. The company’s 50-day moving average is $76.95 and its 200-day moving average is $77.18. Boise Cascade has a fifty-two week low of $65.14 and a fifty-two week high of $95.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.74.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. Boise Cascade’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Sell-side analysts anticipate that Boise Cascade will post 3.67 earnings per share for the current 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 paid a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Boise Cascade’s dividend payout ratio is 29.73%.

About Boise Cascade

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.