Boise Cascade (NYSE:BCC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Boise Cascade (NYSE:BCC) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $125.00.

A number of equities analysts have issued reports on BCC shares. Truist Financial reduced their target price on Boise Cascade from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Loop Capital cut their price target on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. DA Davidson decreased their price objective 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. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, BMO Capital Markets cut their target price on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a report on Tuesday, February 25th.

Insider Transactions at Boise Cascade

In other 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 transaction, the chief operating officer now directly owns 38,026 shares in the company, valued at $3,810,585.46. The trade was a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kristopher J. Matula sold 553 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly 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. 0.98% of the stock is owned by insiders.

Institutional Trading of Boise Cascade

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Boise Cascade in the fourth quarter valued at $55,680,000. Westwood Holdings Group Inc. raised its holdings in Boise Cascade by 25.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company’s stock valued at $147,067,000 after acquiring an additional 306,684 shares during the period. First Trust Advisors LP lifted its position in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after acquiring an additional 195,773 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company’s stock worth $14,028,000 after acquiring an additional 142,107 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after acquiring an additional 121,790 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Down 0.7%

BCC opened at $91.29 on Tuesday. Boise Cascade has a fifty-two week low of $84.53 and a fifty-two week high of $155.42. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 9.55 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $95.06 and a 200 day simple moving average of $115.50.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $2.61 EPS. The business’s revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade’s payout ratio is currently 10.49%.

About Boise Cascade

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.