Boise Cascade (NYSE:BCC) Receives Average Recommendation of “Hold” from Brokerages

Boise Cascade (NYSE:BCC) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $128.50.

A number of analysts have recently weighed in on the company. Truist Financial dropped their price objective on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets lowered their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating for the company in a research note on Tuesday, February 25th. DA Davidson dropped their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Loop Capital reduced their price target on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, February 24th.

Boise Cascade Stock Performance

NYSE BCC opened at $98.28 on Monday. The company has a 50-day simple moving average of $112.29 and a two-hundred day simple moving average of $127.39. Boise Cascade has a 12-month low of $95.33 and a 12-month high of $155.42. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 10.28 and a beta of 1.67. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last issued its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. On average, equities analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a yield of 0.85%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now owns 38,026 shares of the company’s stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

A number of hedge funds have recently made changes to their positions in BCC. R Squared Ltd purchased a new position in Boise Cascade during the fourth quarter valued at $29,000. Quarry LP increased its holdings in shares of Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company’s stock valued at $30,000 after acquiring an additional 211 shares in the last quarter. Principal Securities Inc. raised its position in shares of Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after purchasing an additional 145 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Boise Cascade by 254.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 777 shares of the construction company’s stock worth $92,000 after purchasing an additional 558 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Boise Cascade by 234.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,270 shares of the construction company’s stock valued at $179,000 after purchasing an additional 890 shares during the last quarter. 96.18% of the stock is owned by 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.