Boise Cascade, L.L.C. (NYSE:BCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $102.50.

A number of equities research analysts have recently weighed in on BCC shares. DA Davidson reiterated a “buy” rating and issued a $95.00 price objective on shares of Boise Cascade in a research report on Thursday, November 20th. BMO Capital Markets raised Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boise Cascade in a research report on Monday. Truist Financial decreased their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Finally, Wall Street Zen lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th.

Boise Cascade Price Performance

BCC stock opened at $73.15 on Friday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 6.14 and a beta of 1.27. The firm’s 50-day moving average price is $72.48 and its two-hundred day moving average price is $81.57. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $65.14 and a 12-month high of $147.47.

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

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, December 1st. Boise Cascade’s payout ratio is presently 17.39%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in Boise Cascade during the third quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Boise Cascade by 231.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares in the last quarter. Huntington National Bank increased its stake in shares of Boise Cascade by 630.0% in the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock worth $38,000 after acquiring an additional 378 shares in the last quarter. Hantz Financial Services Inc. lifted its position in 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 acquiring an additional 450 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Boise Cascade during the third quarter worth about $38,000. Institutional investors 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.