Boise Cascade, L.L.C. (NYSE:BCC) Receives $102.50 Average PT from Brokerages

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $102.50.

BCC has been the subject of several recent analyst reports. Truist Financial decreased their price target on Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. DA Davidson reduced their price objective on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 24th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. The Goldman Sachs Group lowered their target price on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, BMO Capital Markets upgraded shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Wednesday, November 5th.

Boise Cascade Price Performance

NYSE BCC opened at $69.15 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $75.79 and a two-hundred day moving average price of $83.73. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 5.81 and a beta of 1.27. Boise Cascade has a 52 week low of $65.62 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, November 3rd. The construction company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. Analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, December 1st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.88 annualized dividend and a yield of 1.3%. Boise Cascade’s payout ratio is presently 17.39%.

Insiders Place Their Bets

In other Boise Cascade news, COO Jeffrey Robert Strom sold 1,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the transaction, the chief operating officer directly owned 37,026 shares of the company’s stock, valued at approximately $3,371,587.56. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is owned by company insiders.

Institutional Trading of Boise Cascade

Institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in Boise Cascade during the third quarter valued at about $28,000. Huntington National Bank lifted its holdings in Boise Cascade by 630.0% in the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after acquiring an additional 378 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Boise Cascade by 1,071.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after purchasing an additional 450 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock valued at $40,000 after purchasing an additional 222 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new position in shares of Boise Cascade in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.