Boise Cascade (NYSE:BCC) Reaches New 52-Week Low After Analyst Downgrade

Boise Cascade, L.L.C. (NYSE:BCC)’s stock price hit a new 52-week low during mid-day trading on Friday after DA Davidson lowered their price target on the stock from $115.00 to $100.00. DA Davidson currently has a buy rating on the stock. Boise Cascade traded as low as $83.50 and last traded at $83.59, with a volume of 230595 shares traded. The stock had previously closed at $86.72.

BCC has been the subject of several other research reports. Truist Financial lowered their target price on shares of Boise Cascade from $114.00 to $106.00 and set a “buy” rating for the company in a research note on Tuesday, July 8th. Loop Capital lowered their target price on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Bank of America lowered their target price on shares of Boise Cascade from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Boise Cascade has a consensus rating of “Moderate Buy” and an average target price of $116.00.

Insider Activity

In related news, SVP Jill Twedt sold 1,200 shares of Boise Cascade stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the sale, the senior vice president directly owned 34,649 shares in the company, valued at $3,049,458.49. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the sale, the executive vice president owned 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Institutional Trading of Boise Cascade

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock valued at $90,000 after purchasing an additional 444 shares during the last quarter. GAMMA Investing LLC lifted its position in Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company’s stock valued at $143,000 after purchasing an additional 550 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Boise Cascade by 50.8% in the first quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company’s stock worth $2,325,000 after purchasing an additional 7,983 shares during the period. HighTower Advisors LLC lifted its holdings in Boise Cascade by 139.1% in the fourth quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company’s stock worth $536,000 after purchasing an additional 2,622 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Boise Cascade in the fourth quarter worth about $728,000. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Down 3.3%

The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 4.01 and a beta of 1.34. The firm’s fifty day moving average is $88.61 and its two-hundred day moving average is $100.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.61 EPS. On average, sell-side analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.00%. The ex-dividend date was 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.