Boise Cascade (NYSE:BCC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Boise Cascade (NYSE:BCC) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other research analysts also recently weighed in on BCC. The Goldman Sachs Group upped their target price on Boise Cascade from $114.00 to $129.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. Truist Financial raised their price target on shares of Boise Cascade from $156.00 to $175.00 and gave the company a buy rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $125.00.

Boise Cascade Price Performance

Shares of BCC opened at $130.67 on Tuesday. The company has a market capitalization of $5.17 billion, a P/E ratio of 10.78 and a beta of 1.64. The business’s 50-day moving average is $140.32 and its two-hundred day moving average is $128.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.26 and a current ratio of 3.46. Boise Cascade has a fifty-two week low of $70.66 and a fifty-two week high of $154.67.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.31. Boise Cascade had a net margin of 7.07% and a return on equity of 21.94%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts predict that Boise Cascade will post 11.44 earnings per share for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, June 3rd. Boise Cascade’s dividend payout ratio is currently 6.60%.

Insider Activity

In other Boise Cascade news, EVP Dean Michael Brown sold 11,117 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total transaction of $1,546,263.53. Following the transaction, the executive vice president now owns 40,237 shares of the company’s stock, valued at $5,596,564.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BCC. SummerHaven Investment Management LLC increased its holdings in shares of Boise Cascade by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock worth $982,000 after buying an additional 93 shares during the last quarter. Measured Wealth Private Client Group LLC increased its stake in Boise Cascade by 1.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after acquiring an additional 95 shares during the last quarter. New York State Teachers Retirement System raised its position in Boise Cascade by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock valued at $3,990,000 after purchasing an additional 108 shares during the period. Bridge City Capital LLC lifted its stake in shares of Boise Cascade by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock valued at $2,802,000 after purchasing an additional 143 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Boise Cascade by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 11,272 shares of the construction company’s stock worth $1,161,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.