BMO Capital Markets Raises Boise Cascade (NYSE:BCC) Price Target to $136.00

Boise Cascade (NYSE:BCC) had its target price lifted by BMO Capital Markets from $130.00 to $136.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a market perform rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial raised their target price on shares of Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $135.75.

Boise Cascade Trading Down 1.2 %

Shares of BCC opened at $135.38 on Tuesday. The business’s 50-day moving average price is $135.76 and its 200-day moving average price is $133.12. Boise Cascade has a twelve month low of $87.32 and a twelve month high of $154.67. The stock has a market cap of $5.34 billion, a PE ratio of 11.01 and a beta of 1.52. The company has a quick ratio of 2.08, a current ratio of 3.28 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $3.67 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Boise Cascade will post 9.71 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 3rd. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BCC. Westwood Holdings Group Inc. raised its stake in shares of Boise Cascade by 107.7% during the second quarter. Westwood Holdings Group Inc. now owns 1,117,914 shares of the construction company’s stock worth $133,278,000 after acquiring an additional 579,759 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Boise Cascade by 2,978.4% in the second quarter. Marshall Wace LLP now owns 191,047 shares of the construction company’s stock worth $22,777,000 after buying an additional 184,841 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Boise Cascade by 293.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 236,980 shares of the construction company’s stock worth $36,346,000 after buying an additional 176,738 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Boise Cascade by 46.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 383,000 shares of the construction company’s stock worth $45,661,000 after buying an additional 120,600 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Boise Cascade by 76.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 88,132 shares of the construction company’s stock worth $13,517,000 after buying an additional 38,173 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.