Truist Financial Has Lowered Expectations for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC - Free Report) had its target price trimmed by Truist Financial from $157.00 to $134.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

Several other analysts have also issued reports on the company. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. DA Davidson reduced their target price on Boise Cascade from $155.00 to $125.00 and set a "buy" rating on the stock in a report on Monday. Finally, Loop Capital reduced their target price on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $128.50.

Boise Cascade Stock Performance

NYSE BCC traded down $1.36 on Monday, reaching $102.71. The stock had a trading volume of 475,944 shares, compared to its average volume of 323,727. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The firm has a fifty day moving average of $121.11 and a two-hundred day moving average of $131.63. Boise Cascade has a 1-year low of $102.17 and a 1-year high of $155.42. The company has a market cap of $3.90 billion, a P/E ratio of 10.74 and a beta of 1.57.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 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 firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. On average, equities research analysts anticipate that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.82%. Boise Cascade's dividend payout ratio is currently 8.79%.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the transaction, the director now directly owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boise Cascade

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in Boise Cascade in the third quarter valued at about $28,000. R Squared Ltd bought a new position in Boise Cascade in the fourth quarter valued at about $29,000. Quarry LP raised its position in Boise Cascade by 502.4% in the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after purchasing an additional 211 shares during the last quarter. Larson Financial Group LLC raised its position in Boise Cascade by 23.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the construction company's stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Boise Cascade by 44.2% in the fourth quarter. Principal Securities Inc. now owns 473 shares of the construction company's stock valued at $56,000 after purchasing an additional 145 shares during the last quarter. 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.