Boise Cascade (NYSE:BCC) Reaches New 12-Month Low – Time to Sell?

Boise Cascade (NYSE:BCC)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $113.38 and last traded at $115.69, with a volume of 14336 shares traded. The stock had previously closed at $117.40.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets raised their price objective on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Loop Capital began coverage on Boise Cascade in a research note on Friday, November 1st. They issued a “buy” rating and a $155.00 target price on the stock. Bank of America lifted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Finally, Truist Financial dropped their price target on shares of Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $138.80.

Boise Cascade Price Performance

The firm has a 50-day moving average of $135.08 and a 200 day moving average of $132.93. The company has a market capitalization of $4.42 billion, a PE ratio of 11.27 and a beta of 1.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 1.90.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $3.58 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System grew its position in Boise Cascade by 1.8% during the second quarter. Arizona State Retirement System now owns 11,076 shares of the construction company’s stock valued at $1,320,000 after buying an additional 196 shares during the period. Caprock Group LLC raised its holdings in Boise Cascade by 69.3% in the 2nd quarter. Caprock Group LLC now owns 4,029 shares of the construction company’s stock worth $480,000 after purchasing an additional 1,649 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Boise Cascade during the second quarter valued at $148,000. Prudential PLC bought a new stake in Boise Cascade during the second quarter valued at about $631,000. Finally, Choreo LLC lifted its position in shares of Boise Cascade by 142.4% during the 2nd quarter. Choreo LLC now owns 9,508 shares of the construction company’s stock valued at $1,119,000 after buying an additional 5,585 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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.