Boise Cascade (NYSE:BCC) Shares Break Above 200-Day Moving Average – What’s Next?

Boise Cascade, L.L.C. (NYSE:BCC) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $77.30 and traded as high as $77.91. Boise Cascade shares last traded at $77.76, with a volume of 393,440 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. DA Davidson lifted their target price 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 lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. The Goldman Sachs Group increased their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Bank of America dropped their price target on Boise Cascade from $89.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 14th. 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 company’s stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus price target of $92.00.

Boise Cascade Price Performance

The firm has a market cap of $2.74 billion, a PE ratio of 26.66, a P/E/G ratio of 1.01 and a beta of 1.08. The firm’s fifty day simple moving average is $76.45 and its two-hundred day simple moving average is $77.28. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm earned $1.64 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Dividend Announcement

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 of this dividend is Tuesday, December 1st. Boise Cascade’s dividend payout ratio (DPR) is 31.19%.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 1,250 shares of Boise Cascade 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 sale, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. This trade represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company’s stock.

Institutional Trading of Boise Cascade

Several hedge funds have recently bought and sold shares of BCC. Covestor Ltd raised its stake in shares of Boise Cascade by 162.5% during the third quarter. Covestor Ltd now owns 504 shares of the construction company’s stock valued at $38,000 after acquiring an additional 312 shares in the last quarter. Bridge City Capital LLC lifted its holdings in shares of Boise Cascade by 21.3% in the 3rd quarter. Bridge City Capital LLC now owns 21,028 shares of the construction company’s stock worth $1,559,000 after buying an additional 3,687 shares during the period. Vise Technologies Inc. boosted its stake in shares of Boise Cascade by 52.1% during the third quarter. Vise Technologies Inc. now owns 4,083 shares of the construction company’s stock valued at $303,000 after purchasing an additional 1,399 shares in the last quarter. Summit Global Investments lifted its stake in shares of Boise Cascade by 271.3% during the 3rd quarter. Summit Global Investments now owns 10,670 shares of the construction company’s stock worth $791,000 after purchasing an additional 7,796 shares during the last quarter. Finally, State of Wyoming raised its holdings in Boise Cascade by 24.6% in the third quarter. State of Wyoming now owns 4,535 shares of the construction company’s stock worth $336,000 after purchasing an additional 895 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

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.