Benchmark Reiterates “Hold” Rating for Boise Cascade (NYSE:BCC)

Benchmark restated their hold rating on shares of Boise Cascade (NYSE:BCC) in a research report report published on Tuesday,Benzinga reports.

BCC has been the topic of several other reports. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital lowered their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group cut their target price on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. DA Davidson reduced their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial dropped their price target on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Boise Cascade currently has an average rating of “Hold” and a consensus price target of $128.50.

Boise Cascade Stock Performance

BCC opened at $106.52 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The business has a fifty day simple moving average of $121.97 and a 200 day simple moving average of $132.03. Boise Cascade has a 1 year low of $102.27 and a 1 year high of $155.42. The company has a market capitalization of $4.04 billion, a PE ratio of 11.14 and a beta of 1.57.

Boise Cascade (NYSE:BCC) last announced its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Research analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.79%. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Boise Cascade in the fourth quarter worth about $55,680,000. First Trust Advisors LP increased its position in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares in the last quarter. American Century Companies Inc. lifted its stake in Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares during the last quarter. Bank of Montreal Can lifted its stake in Boise Cascade by 1,597.4% in the 3rd quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Boise Cascade by 534.5% in the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after buying an additional 84,487 shares in the last quarter. 96.18% of the stock is currently owned by 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.