Boise Cascade (NYSE:BCC) Given Consensus Recommendation of "Hold" by Brokerages

Boise Cascade (NYSE:BCC - Get Free Report) has earned a consensus rating of "Hold" from the five research firms that are covering the firm, MarketBeat.com 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 1-year price objective among analysts that have issued ratings on the stock in the last year is $139.60.

BCC has been the subject of several analyst reports. Truist Financial upped their target price on Boise Cascade from $154.00 to $161.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Loop Capital started 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 for the company. BMO Capital Markets upped their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Bank of America raised their price target on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research note on Thursday, September 12th.

Boise Cascade Stock Down 2.7 %

Shares of NYSE:BCC traded down $4.09 during trading on Tuesday, reaching $148.41. The stock had a trading volume of 283,092 shares, compared to its average volume of 305,878. The firm's 50-day simple moving average is $139.77 and its 200 day simple moving average is $133.11. The company has a market capitalization of $5.70 billion, a P/E ratio of 14.50 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Boise Cascade has a one year low of $106.38 and a one year high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm earned $3.58 earnings per share. The company's revenue for the quarter was down 6.6% on a year-over-year basis. As a group, research analysts expect that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade's dividend payout ratio is currently 8.22%.

Institutional Investors Weigh In On Boise Cascade

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company's stock worth $2,229,000 after purchasing an additional 12,231 shares during the period. World Investment Advisors LLC acquired a new stake in Boise Cascade during the 3rd quarter worth approximately $3,995,000. Sanctuary Advisors LLC lifted its position in Boise Cascade by 11.0% during the third quarter. Sanctuary Advisors LLC now owns 6,937 shares of the construction company's stock valued at $997,000 after buying an additional 686 shares in the last quarter. Invst LLC grew its stake in shares of Boise Cascade by 2.6% in the third quarter. Invst LLC now owns 5,060 shares of the construction company's stock valued at $713,000 after buying an additional 128 shares in the last quarter. Finally, Vestcor Inc lifted its position in Boise Cascade by 97.3% during the 3rd quarter. Vestcor Inc now owns 8,112 shares of the construction company's stock worth $1,144,000 after acquiring an additional 4,000 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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.