Brokerages Set Boise Cascade, L.L.C. (NYSE:BCC) PT at $93.60

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $93.60.

Several analysts have recently commented on the company. Wall Street Zen upgraded Boise Cascade from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research lowered Boise Cascade from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. DA Davidson raised their price objective on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group boosted their price objective on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th.

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher Matula sold 1,930 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares of the company’s stock, valued at $2,008,423. This represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by company insiders.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of Boise Cascade by 231.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Boise Cascade in the third quarter valued at approximately $38,000. UMB Bank n.a. increased its position in shares of Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after acquiring an additional 260 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in Boise Cascade during the third quarter worth $44,000. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Performance

BCC stock opened at $75.57 on Monday. The stock has a 50-day moving average price of $78.92 and a 200-day moving average price of $76.04. Boise Cascade has a 1-year low of $65.00 and a 1-year high of $91.97. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.64 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08.

Boise Cascade (NYSE:BCC) last announced its earnings results 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 return on equity of 5.41% and a net margin of 1.64%.The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Boise Cascade will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.2%. Boise Cascade’s dividend payout ratio is currently 31.19%.

About Boise Cascade

Boise Cascade Company is a wood products manufacturer and building materials distributor headquartered in Boise, Idaho. The company serves residential construction, repair and remodeling, and other construction markets through two primary business segments: Wood Products and Building Materials Distribution.

Its Wood Products business manufactures engineered wood products, including laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other structural panels. These products are used in floors, roofs, walls, and other components of residential and commercial buildings.

Through its Building Materials Distribution operations, Boise Cascade supplies engineered wood, lumber, plywood, oriented strand board, siding, and other construction materials to dealers and professional contractors.