Brokerages Set Boise Cascade (NYSE:BCC) Target Price at $75.80

Boise Cascade (NYSE:BCCGet Rating) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $75.80.

Several brokerages recently commented on BCC. Zacks Investment Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Tuesday, January 11th. StockNews.com downgraded shares of Boise Cascade from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Bank of America upgraded shares of Boise Cascade from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $82.00 in a report on Wednesday, January 19th. DA Davidson upgraded shares of Boise Cascade from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $82.00 in a research note on Thursday, February 24th. Finally, The Goldman Sachs Group raised Boise Cascade from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $55.00 to $77.00 in a research report on Friday, January 21st.

In other news, EVP Dean Michael Brown sold 2,394 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $82.58, for a total value of $197,696.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jill Twedt sold 4,000 shares of the stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $77.85, for a total transaction of $311,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,215 shares of company stock worth $882,242. 0.89% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BCC. EverSource Wealth Advisors LLC bought a new position in shares of Boise Cascade in the fourth quarter valued at approximately $25,000. Rockefeller Capital Management L.P. increased its holdings in Boise Cascade by 758.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 369 shares of the construction company’s stock valued at $26,000 after purchasing an additional 326 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Boise Cascade in the 4th quarter valued at $34,000. Mystic Asset Management Inc. bought a new position in Boise Cascade in the 4th quarter valued at $40,000. Finally, Van ECK Associates Corp acquired a new position in Boise Cascade in the fourth quarter worth $52,000. 91.42% of the stock is owned by institutional investors.

Shares of BCC opened at $81.67 on Tuesday. The company has a market capitalization of $3.22 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50. Boise Cascade has a one year low of $46.51 and a one year high of $85.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.94 and a quick ratio of 1.91. The company’s fifty day moving average price is $75.30 and its 200 day moving average price is $71.90.

Boise Cascade (NYSE:BCCGet Rating) last announced its earnings results on Thursday, May 5th. The construction company reported $7.61 EPS for the quarter, topping the consensus estimate of $6.95 by $0.66. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.19 billion. Boise Cascade had a net margin of 8.99% and a return on equity of 58.53%. The business’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.76 EPS. Analysts anticipate that Boise Cascade will post 15.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, February 22nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 18th. Boise Cascade’s dividend payout ratio is 2.67%.

Boise Cascade Company Profile (Get Rating)

Boise Cascade Company manufactures wood products and distributes 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 lumber products.

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