Boise Cascade (NYSE:BCC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Boise Cascade (NYSE:BCC) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $128.50.

Several research analysts have recently weighed in on BCC shares. DA Davidson cut their price target on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Truist Financial cut 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, February 24th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group dropped their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by insiders.

Institutional Trading of Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. raised its holdings in shares of Boise Cascade by 3.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,192,621 shares of the construction company’s stock valued at $141,755,000 after acquiring an additional 45,010 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 acquiring an additional 121,790 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after acquiring an additional 195,773 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Boise Cascade by 17.8% in the 4th quarter. Northern Trust Corp now owns 483,165 shares of the construction company’s stock valued at $57,429,000 after acquiring an additional 73,061 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Boise Cascade in the 4th quarter valued at about $55,680,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Boise Cascade Stock Up 2.7 %

Shares of NYSE:BCC opened at $100.54 on Thursday. The company has a market capitalization of $3.81 billion, a PE ratio of 10.52 and a beta of 1.57. 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 moving average price of $119.84 and a two-hundred day moving average price of $131.15. Boise Cascade has a 1 year low of $97.21 and a 1 year high of $155.42.

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

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 yield of 0.84%. Boise Cascade’s dividend payout ratio (DPR) is 8.79%.

About Boise Cascade

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.