Boise Cascade, L.L.C. (NYSE:BCC) Receives $93.60 Consensus Price Target from Analysts

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have earned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $93.60.

BCC has been the topic of a number of research reports. DA Davidson upped their price target on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Bank of America raised their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Truist Financial set a $97.00 price objective on Boise Cascade in a report on Wednesday, May 6th. Weiss Ratings lowered Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Finally, Zacks Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th.

Boise Cascade Price Performance

Shares of NYSE BCC opened at $83.13 on Thursday. The firm’s 50-day moving average price is $76.91 and its 200-day moving average price is $76.96. Boise Cascade has a 1-year low of $65.00 and a 1-year high of $91.97. The firm has a market capitalization of $2.90 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.12 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data 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. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Boise Cascade will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

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

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director owned 13,982 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BCC. Caitong International Asset Management Co. Ltd raised its holdings in shares of Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp lifted its position in Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. Advisory Services Network LLC acquired a new position in Boise Cascade during the 3rd quarter valued at about $38,000. UMB Bank n.a. boosted its stake in Boise Cascade by 98.5% during the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after purchasing an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in Boise Cascade during the 3rd quarter worth approximately $44,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.