Boise Cascade Co (NYSE:BCC) has earned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.75.
Several research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Boise Cascade from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Zacks Investment Research cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Vertical Research cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Monday, November 11th. DA Davidson cut shares of Boise Cascade from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Friday, November 8th. Finally, ValuEngine upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.
In other Boise Cascade news, insider Stewart David acquired 196,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were purchased at an average price of $0.23 per share, with a total value of $45,276.00. Also, CFO Wayne M. Rancourt sold 7,286 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $37.87, for a total transaction of $275,920.82. Following the transaction, the chief financial officer now directly owns 94,663 shares in the company, valued at approximately $3,584,887.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,396 shares of company stock valued at $1,683,907. 1.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in Boise Cascade by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 49,180 shares of the construction company’s stock valued at $1,603,000 after acquiring an additional 5,486 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Boise Cascade in the third quarter valued at approximately $145,000. Russell Investments Group Ltd. raised its position in shares of Boise Cascade by 56.6% in the third quarter. Russell Investments Group Ltd. now owns 76,056 shares of the construction company’s stock valued at $2,479,000 after purchasing an additional 27,486 shares during the period. California Public Employees Retirement System raised its position in shares of Boise Cascade by 31.2% in the third quarter. California Public Employees Retirement System now owns 72,908 shares of the construction company’s stock valued at $2,376,000 after purchasing an additional 17,324 shares during the period. Finally, James Investment Research Inc. raised its position in shares of Boise Cascade by 25.7% in the third quarter. James Investment Research Inc. now owns 18,605 shares of the construction company’s stock valued at $606,000 after purchasing an additional 3,800 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BCC traded up $0.26 during midday trading on Thursday, hitting $37.99. The stock had a trading volume of 373,503 shares, compared to its average volume of 297,377. Boise Cascade has a fifty-two week low of $22.00 and a fifty-two week high of $39.65. The business has a 50-day simple moving average of $34.88 and a two-hundred day simple moving average of $29.46. The firm has a market cap of $1.47 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.53 and a beta of 2.02. The company has a current ratio of 2.53, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72.
Boise Cascade (NYSE:BCC) last announced its earnings results on Thursday, November 7th. The construction company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Boise Cascade had a negative net margin of 0.13% and a positive return on equity of 8.10%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that Boise Cascade will post 1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.10 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, November 29th. Boise Cascade’s dividend payout ratio (DPR) is currently 15.72%.
About Boise Cascade
Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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; and structural, appearance, and industrial plywood panels.
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