Boise Cascade (NYSE:BCC) Given Average Rating of “Hold” by Analysts

Shares of Boise Cascade (NYSE:BCCGet Rating) have earned a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $72.50.

Several research firms have recently commented on BCC. Truist Financial began coverage on Boise Cascade in a research report on Wednesday, June 29th. They issued a “hold” rating and a $64.00 price target for the company. DA Davidson boosted their target price on Boise Cascade to $85.00 in a research note on Tuesday, August 9th. The Goldman Sachs Group boosted their target price on Boise Cascade from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Finally, Bank of America downgraded Boise Cascade from a “buy” rating to a “neutral” rating and set a $71.00 target price on the stock. in a research note on Thursday, June 23rd.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, CFO Kelly E. Hibbs sold 3,180 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $68.96, for a total transaction of $219,292.80. Following the sale, the chief financial officer now owns 40,736 shares in the company, valued at approximately $2,809,154.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Boise Cascade

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Boise Cascade by 76.0% in the first quarter. Bank of America Corp DE now owns 540,937 shares of the construction company’s stock worth $37,578,000 after buying an additional 233,636 shares during the last quarter. FMR LLC boosted its stake in shares of Boise Cascade by 257.5% in the second quarter. FMR LLC now owns 302,851 shares of the construction company’s stock worth $18,016,000 after buying an additional 218,130 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Boise Cascade by 24.0% in the first quarter. Acadian Asset Management LLC now owns 1,039,884 shares of the construction company’s stock worth $72,229,000 after buying an additional 201,074 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Boise Cascade by 3.0% in the first quarter. BlackRock Inc. now owns 6,609,770 shares of the construction company’s stock worth $459,180,000 after buying an additional 191,595 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Boise Cascade by 55.2% in the second quarter. JPMorgan Chase & Co. now owns 480,167 shares of the construction company’s stock worth $28,565,000 after buying an additional 170,709 shares during the last quarter. Hedge funds and other institutional investors own 93.66% of the company’s stock.

Boise Cascade Trading Up 3.0 %

BCC opened at $63.54 on Monday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 3.23, a PEG ratio of 1.38 and a beta of 1.62. The company has a current ratio of 3.18, a quick ratio of 2.14 and a debt-to-equity ratio of 0.27. Boise Cascade has a 12 month low of $51.30 and a 12 month high of $85.17. The stock has a fifty day moving average price of $65.95 and a 200-day moving average price of $71.45.

Boise Cascade (NYSE:BCCGet Rating) last released its quarterly earnings results on Monday, August 1st. The construction company reported $5.49 EPS for the quarter, topping the consensus estimate of $4.64 by $0.85. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.16 billion. Boise Cascade had a return on equity of 51.48% and a net margin of 9.45%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.62 EPS. As a group, equities research analysts anticipate that Boise Cascade will post 20.06 earnings per share for the current fiscal year.

Boise Cascade Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.48 annualized dividend and a yield of 0.76%. Boise Cascade’s payout ratio is presently 2.44%.

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.

Further Reading

Analyst Recommendations for Boise Cascade (NYSE:BCC)

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