Boise Cascade (NYSE:BCC) Given Consensus Rating of “Buy” by Analysts

Boise Cascade (NYSE:BCCGet Rating) has been given a consensus rating of “Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $79.75.

BCC has been the topic of several recent analyst reports. DA Davidson raised Boise Cascade from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $82.00 in a research note on Thursday, February 24th. Benchmark downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Finally, StockNews.com downgraded Boise Cascade from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 4th.

In other news, EVP Dean Michael Brown sold 4,821 shares of Boise Cascade stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $77.40, for a total value of $373,145.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jill Twedt sold 4,000 shares of Boise Cascade stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $77.85, for a total value of $311,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,215 shares of company stock worth $882,242. Corporate insiders own 0.89% of the company’s stock.

Several institutional investors have recently made changes to their positions in BCC. EverSource Wealth Advisors LLC purchased a new position in shares of Boise Cascade in the 4th quarter worth approximately $25,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Boise Cascade by 758.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 369 shares of the construction company’s stock worth $26,000 after purchasing an additional 326 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Boise Cascade in the 4th quarter worth approximately $34,000. Eaton Vance Management boosted its holdings in shares of Boise Cascade by 24.1% in the 4th quarter. Eaton Vance Management now owns 3,343 shares of the construction company’s stock worth $35,000 after purchasing an additional 649 shares during the period. Finally, Mystic Asset Management Inc. purchased a new position in Boise Cascade during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 91.42% of the company’s stock.

BCC traded up $2.26 on Friday, hitting $82.57. 367,019 shares of the company’s stock traded hands, compared to its average volume of 417,001. The company’s 50 day simple moving average is $75.45 and its 200-day simple moving average is $73.71. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 3.79, a P/E/G ratio of 1.85 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 current ratio of 2.75, a quick ratio of 1.84 and a debt-to-equity ratio of 0.29.

Boise Cascade (NYSE:BCCGet Rating) last issued its earnings results on Thursday, May 5th. The construction company reported $7.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $1.11. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.19 billion. Boise Cascade had a return on equity of 62.72% and a net margin of 10.27%. The firm’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter last year, the company earned $3.76 EPS. As a group, equities analysts anticipate that Boise Cascade will post 18.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be paid a $2.62 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, May 31st. This represents a $10.48 dividend on an annualized basis and a yield of 12.69%. Boise Cascade’s payout ratio is presently 2.20%.

About Boise Cascade (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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