Boise Cascade (NYSE:BCC) Receives Buy Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of Boise Cascade (NYSE:BCCFree Report) in a research note released on Tuesday morning,Benzinga reports. DA Davidson currently has a $95.00 target price on the construction company’s stock.

A number of other research analysts also recently commented on BCC. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Finally, Truist Financial boosted their price objective on Boise Cascade from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.83.

View Our Latest Report on Boise Cascade

Boise Cascade Trading Up 7.5%

Shares of Boise Cascade stock opened at $86.62 on Tuesday. The stock has a market cap of $3.21 billion, a P/E ratio of 24.61 and a beta of 1.27. The company has a quick ratio of 1.69, a current ratio of 3.10 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 $108.43. The business’s 50 day moving average is $81.66 and its 200-day moving average is $78.87.

Boise Cascade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.88 annualized dividend and a yield of 1.0%. Boise Cascade’s payout ratio is presently 17.39%.

Institutional Trading of Boise Cascade

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in Boise Cascade by 4.0% during the 1st quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after buying an additional 1,332 shares during the period. AQR Capital Management LLC lifted its position in shares of Boise Cascade by 8.8% in the 1st 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 during the period. Jones Financial Companies Lllp boosted its stake in shares of Boise Cascade by 1,638.4% in the 1st quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after purchasing an additional 3,883 shares during the last quarter. United Services Automobile Association acquired a new stake in Boise Cascade during the 1st quarter worth about $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Boise Cascade by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock valued at $19,974,000 after purchasing an additional 3,978 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade News Roundup

Here are the key news stories impacting Boise Cascade this week:

Boise Cascade Company Profile

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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.

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Analyst Recommendations for Boise Cascade (NYSE:BCC)

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