Boise Cascade (NYSE:BCC) Receives Average Recommendation of “Buy” from Brokerages

Boise Cascade (NYSE:BCCGet Rating) has been assigned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $79.75.

A number of equities analysts have issued reports on the company. Benchmark downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. StockNews.com downgraded Boise Cascade from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 4th. Finally, DA Davidson upgraded Boise Cascade from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $82.00 in a report on Thursday, February 24th.

Shares of Boise Cascade stock traded up $2.26 during midday trading on Friday, reaching $82.57. 367,019 shares of the company’s stock traded hands, compared to its average volume of 417,001. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.84 and a current ratio of 2.75. The company has a market cap of $3.26 billion, a PE ratio of 3.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.50. The stock has a 50 day moving average of $75.45 and a 200-day moving average of $73.71. Boise Cascade has a 12 month low of $46.51 and a 12 month high of $85.17.

Boise Cascade (NYSE:BCCGet Rating) last announced its earnings results on Thursday, May 5th. The construction company reported $7.61 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $1.11. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.19 billion. Boise Cascade had a return on equity of 62.72% and a net margin of 10.27%. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.76 earnings per share. On average, equities analysts anticipate that Boise Cascade will post 18.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be given a dividend of $2.62 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from Boise Cascade’s previous quarterly dividend of $0.12. This represents a $10.48 annualized dividend and a dividend yield of 12.69%. Boise Cascade’s dividend payout ratio (DPR) is 2.20%.

In related news, SVP Jill Twedt sold 4,000 shares of the stock in a transaction on Monday, February 28th. The stock was sold at an average price of $77.85, for a total transaction of $311,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Dean Michael Brown sold 4,821 shares of the stock in a transaction on Monday, February 28th. The shares were sold at an average price of $77.40, for a total value of $373,145.40. The disclosure for this sale can be found here. Insiders have sold 11,215 shares of company stock worth $882,242 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in BCC. Walleye Capital LLC purchased a new position in Boise Cascade in the first quarter worth about $214,000. Paradigm Capital Management Inc. NY boosted its position in Boise Cascade by 23.9% in the first quarter. Paradigm Capital Management Inc. NY now owns 92,275 shares of the construction company’s stock worth $6,410,000 after purchasing an additional 17,788 shares during the last quarter. Range Financial Group LLC purchased a new position in Boise Cascade in the first quarter worth about $829,000. Virtu Financial LLC purchased a new position in Boise Cascade in the first quarter worth about $206,000. Finally, Advisors Asset Management Inc. boosted its position in Boise Cascade by 19.5% in the first quarter. Advisors Asset Management Inc. now owns 236,743 shares of the construction company’s stock worth $16,447,000 after purchasing an additional 38,648 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors.

Boise Cascade Company Profile (Get Rating)

Boise Cascade Company manufactures wood products and distributes 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 lumber products.

Recommended Stories

Want More Great Investing Ideas?

Receive News & Ratings for Boise Cascade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boise Cascade and related companies with MarketBeat.com's FREE daily email newsletter.