Boise Cascade (NYSE:BCC) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Boise Cascade, L.L.C. (NYSE:BCC)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $80.06 and traded as low as $73.99. Boise Cascade shares last traded at $74.5530, with a volume of 247,851 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. DA Davidson restated a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a research report on Thursday, November 20th. BMO Capital Markets raised shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Wednesday, November 5th. Truist Financial decreased their price target on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group cut their price objective on Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Boise Cascade presently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Boise Cascade Stock Performance

The business’s fifty day moving average price is $72.66 and its two-hundred day moving average price is $80.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. The stock has a market capitalization of $2.76 billion, a P/E ratio of 14.73 and a beta of 1.27.

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

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Boise Cascade’s payout ratio is currently 17.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in shares of Boise Cascade in the third quarter valued at $28,000. Caitong International Asset Management Co. Ltd grew its holdings in Boise Cascade by 231.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock worth $40,000 after purchasing an additional 222 shares during the period. Huntington National Bank raised its position in 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 purchasing an additional 378 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Boise Cascade by 1,071.4% during the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after buying an additional 450 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.