Boise Cascade (NYSE:BCC) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Boise Cascade, L.L.C. (NYSE:BCC)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $79.59 and traded as low as $73.02. Boise Cascade shares last traded at $73.5850, with a volume of 316,662 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on BCC. Truist Financial raised their target price on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. The Goldman Sachs Group decreased 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 report on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boise Cascade in a research note on Monday, December 29th. 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 for the company in a research note on Wednesday, November 5th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Boise Cascade Trading Down 4.4%

The company’s fifty day moving average price is $72.99 and its two-hundred day moving average price is $79.59. 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 firm has a market cap of $2.73 billion, a P/E ratio of 14.54 and a beta of 1.27.

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

Boise Cascade Dividend Announcement

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

Hedge Funds Weigh In On Boise Cascade

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Boise Cascade by 4.0% in the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock valued at $3,404,000 after buying an additional 1,332 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Boise Cascade by 8.8% during the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock worth $3,594,000 after purchasing an additional 2,966 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Boise Cascade by 1,638.4% during the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock worth $404,000 after purchasing an additional 3,883 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Boise Cascade during the first quarter valued at approximately $1,402,000. Finally, United Services Automobile Association acquired a new stake in shares of Boise Cascade in the first quarter valued at approximately $258,000. Institutional investors own 96.18% of the company’s stock.

About Boise Cascade

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.