Boise Cascade (NYSE:BCC) Price Target Raised to $81.00

Boise Cascade (NYSE:BCC) had its price objective raised by Bank of America from $80.00 to $81.00 in a report released on Tuesday,Benzinga reports. Bank of America currently has an underperform rating on the construction company’s stock.

A number of other analysts have also commented on BCC. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. DA Davidson decreased their price objective on Boise Cascade from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Truist Financial set a $97.00 target price on Boise Cascade in a report on Wednesday, May 6th. Finally, Zacks Research raised Boise Cascade from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.80.

Boise Cascade Price Performance

BCC stock opened at $79.97 on Tuesday. The stock has a market cap of $2.81 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08. The stock has a 50-day moving average price of $71.71 and a two-hundred day moving average price of $76.87. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a return on equity of 5.55% and a net margin of 1.73%.Boise Cascade’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. Equities analysts forecast that Boise Cascade will post 3.82 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 1st. Boise Cascade’s payout ratio is currently 29.73%.

Insider Buying and Selling at Boise Cascade

In related news, SVP Jill Twedt sold 6,070 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $66.45, for a total transaction of $403,351.50. Following the transaction, the senior vice president directly owned 26,545 shares of the company’s stock, valued at approximately $1,763,915.25. The trade was a 18.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Institutional investors and hedge funds have recently modified their holdings of the stock. Dayah Capital LLC acquired a new stake in shares of Boise Cascade during the 1st quarter worth about $379,000. Amundi raised its holdings in Boise Cascade by 24.2% in the 1st quarter. Amundi now owns 8,910 shares of the construction company’s stock valued at $676,000 after acquiring an additional 1,734 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Boise Cascade by 25.6% during the first quarter. California State Teachers Retirement System now owns 43,419 shares of the construction company’s stock worth $3,293,000 after acquiring an additional 8,850 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Boise Cascade by 38.1% during the first quarter. Quantinno Capital Management LP now owns 20,879 shares of the construction company’s stock worth $1,584,000 after acquiring an additional 5,759 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Boise Cascade in the first quarter valued at approximately $4,412,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.