Boise Cascade (NYSE:BCC) Receives Average Rating of "Hold" from Brokerages

Shares of Boise Cascade (NYSE:BCC - Get Free Report) have earned an average rating of "Hold" from the five research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $139.60.

A number of equities research analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a report on Monday, January 6th. BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased 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. Finally, Loop Capital initiated coverage on shares of Boise Cascade in a research report on Friday, November 1st. They issued a "buy" rating and a $155.00 price target on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Retireful LLC acquired a new stake in shares of Boise Cascade in the fourth quarter worth $289,000. Burney Co. boosted its holdings in Boise Cascade by 14.1% in the 4th quarter. Burney Co. now owns 7,488 shares of the construction company's stock valued at $890,000 after purchasing an additional 927 shares during the period. Fulcrum Capital LLC acquired a new stake in Boise Cascade in the 4th quarter worth $1,092,000. Oliver Luxxe Assets LLC increased its holdings in shares of Boise Cascade by 5.4% during the 4th quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company's stock worth $4,882,000 after purchasing an additional 2,097 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company's stock valued at $14,454,000 after buying an additional 5,779 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Stock Up 2.9 %

Shares of BCC traded up $3.60 during midday trading on Wednesday, reaching $127.21. 396,160 shares of the stock were exchanged, compared to its average volume of 309,929. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 12.45 and a beta of 1.58. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $113.38 and a 12-month high of $155.42. The firm has a 50 day simple moving average of $133.82 and a 200-day simple moving average of $133.03.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.04). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. Boise Cascade's revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.58 EPS. Research analysts forecast that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Monday, December 2nd. Boise Cascade's dividend payout ratio (DPR) is currently 8.22%.

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.