Boise Cascade (NYSE:BCC) Price Target Lowered to $122.00 at BMO Capital Markets

Boise Cascade (NYSE:BCC - Free Report) had its price target reduced by BMO Capital Markets from $136.00 to $122.00 in a report published on Tuesday,Benzinga reports. They currently have a market perform rating on the construction company's stock.

A number of other research firms have also issued reports on BCC. Loop Capital lowered their price target on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday. The Goldman Sachs Group dropped 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 cut their price target on Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday. StockNews.com lowered shares of Boise Cascade from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Truist Financial cut their price objective on shares of Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $128.50.

Boise Cascade Stock Performance

Shares of BCC stock traded up $1.17 during trading hours on Tuesday, hitting $103.72. The stock had a trading volume of 579,120 shares, compared to its average volume of 330,275. The stock's 50 day moving average is $121.11 and its 200 day moving average is $131.63. The firm has a market capitalization of $3.93 billion, a PE ratio of 10.85 and a beta of 1.57. Boise Cascade has a twelve month low of $102.17 and a twelve month high of $155.42. 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 (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, research analysts forecast that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Monday, February 24th. Boise Cascade's dividend payout ratio (DPR) is currently 8.79%.

Insiders Place Their Bets

In related news, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Boise Cascade in the 4th quarter worth approximately $9,894,000. Mackenzie Financial Corp boosted its position in Boise Cascade by 263.7% during the fourth quarter. Mackenzie Financial Corp now owns 19,142 shares of the construction company's stock worth $2,275,000 after purchasing an additional 13,879 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Boise Cascade by 3.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 50,833 shares of the construction company's stock valued at $6,042,000 after purchasing an additional 1,471 shares during the last quarter. Vise Technologies Inc. grew its holdings in Boise Cascade by 3.4% in the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock valued at $359,000 after purchasing an additional 100 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Boise Cascade by 80.9% in the fourth quarter. Voloridge Investment Management LLC now owns 15,702 shares of the construction company's stock valued at $1,866,000 after buying an additional 7,021 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other 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.