Boise Cascade, L.L.C. (NYSE:BCC) Receives $92.80 Average Target Price from Analysts

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $92.80.

A number of brokerages recently weighed in on BCC. DA Davidson reduced their target price on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Truist Financial set a $97.00 target price on Boise Cascade in a research note on Wednesday, May 6th. Bank of America raised their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Boise Cascade from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the sale, the senior vice president directly owned 26,545 shares in the company, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds have recently modified their holdings of BCC. Caitong International Asset Management Co. Ltd increased its position in shares of Boise Cascade by 231.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp boosted its position in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after purchasing an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new position in Boise Cascade in the third quarter valued at approximately $38,000. UMB Bank n.a. grew its stake in Boise Cascade by 98.5% in the fourth 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 in the last quarter. Finally, Signaturefd LLC increased its position in shares of Boise Cascade by 5,866.7% during the 4th quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock worth $40,000 after purchasing an additional 528 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of BCC opened at $74.49 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 2.77. Boise Cascade has a 52-week low of $65.00 and a 52-week high of $91.97. The stock has a 50 day simple moving average of $72.10 and a 200 day simple moving average of $76.91. The firm has a market capitalization of $2.62 billion, a PE ratio of 25.17, a P/E/G ratio of 1.05 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Boise Cascade will post 3.83 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were given a $0.22 dividend. The ex-dividend date of this dividend was 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 (DPR) 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.