Boise Cascade (NYSE:BCC) Price Target Cut to $118.00 by Analysts at Truist Financial

Boise Cascade (NYSE:BCC - Free Report) had its price objective lowered by Truist Financial from $134.00 to $118.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the construction company's stock.

Several other equities analysts also recently weighed in on BCC. Benchmark reiterated a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. Loop Capital decreased their price target on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 14th. BMO Capital Markets lowered their price target on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. DA Davidson reduced their price objective on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Finally, The Goldman Sachs Group dropped their target price on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $125.00.

Boise Cascade Price Performance

Shares of NYSE BCC traded down $1.35 during trading on Tuesday, hitting $94.74. 17,963 shares of the company were exchanged, compared to its average volume of 365,910. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 1 year low of $87.84 and a 1 year high of $155.42. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 9.91 and a beta of 1.52. The firm's fifty day moving average price is $99.44 and its 200 day moving average price is $121.26.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.57 billion. On average, sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, February 24th. Boise Cascade's dividend payout ratio is presently 8.79%.

Insider Activity

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now directly owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BCC. R Squared Ltd acquired a new position in Boise Cascade in the fourth quarter worth about $29,000. Quarry LP grew its position in shares of Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after acquiring an additional 211 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after acquiring an additional 369 shares during the last quarter. Principal Securities Inc. lifted its stake in Boise Cascade by 44.2% during the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock worth $56,000 after purchasing an additional 145 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after purchasing an additional 444 shares during the period. 96.18% of the stock is currently owned by institutional investors.

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.