Analysts Set Boise Cascade, L.L.C. (NYSE:BCC) Price Target at $116.00

Boise Cascade, L.L.C. (NYSE:BCC) has been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $116.00.

Several brokerages recently weighed in on BCC. DA Davidson lowered their price objective on Boise Cascade from $115.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 18th. Loop Capital reduced their price objective on Boise Cascade from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Truist Financial cut their target price on Boise Cascade from $114.00 to $106.00 and set a “buy” rating for the company in a research report on Tuesday, July 8th. Finally, Bank of America dropped their price target on Boise Cascade from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Wednesday, July 9th.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 1,200 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the sale, the senior vice president directly owned 34,649 shares in the company, valued at approximately $3,049,458.49. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joanna L. Barney sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was 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 of the company’s stock, valued at $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. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently bought and sold shares of BCC. Vanguard Group Inc. boosted its holdings in Boise Cascade by 1.6% during the first quarter. Vanguard Group Inc. now owns 4,422,544 shares of the construction company’s stock valued at $433,807,000 after acquiring an additional 70,231 shares during the period. Wellington Management Group LLP boosted its holdings in Boise Cascade by 1.4% during the first quarter. Wellington Management Group LLP now owns 2,629,978 shares of the construction company’s stock valued at $257,975,000 after acquiring an additional 35,639 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Boise Cascade by 25.7% during the first 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. American Century Companies Inc. boosted its holdings in Boise Cascade by 8.1% during the first quarter. American Century Companies Inc. now owns 1,226,383 shares of the construction company’s stock valued at $120,296,000 after acquiring an additional 92,019 shares during the period. Finally, First Trust Advisors LP boosted its holdings 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 valued at $84,691,000 after acquiring an additional 195,773 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $87.22 on Friday. Boise Cascade has a twelve month low of $80.30 and a twelve month high of $155.42. The stock has a market capitalization of $3.28 billion, a P/E ratio of 12.81, a PEG ratio of 4.03 and a beta of 1.28. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $87.58 and its 200 day moving average price is $97.74.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.05). Boise Cascade had a net margin of 4.00% and a return on equity of 12.29%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $2.84 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.21. Boise Cascade’s dividend payout ratio is presently 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.