Boise Cascade (NYSE:BCC) Given Average Rating of "Hold" by Brokerages

Shares of Boise Cascade (NYSE:BCC - Get Free Report) have earned an average rating of "Hold" from the five brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $139.60.

BCC has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on shares of Boise Cascade from $140.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, July 10th. BMO Capital Markets lifted their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Truist Financial boosted their price target on Boise Cascade from $154.00 to $161.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Bank of America raised their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an "underperform" rating in a research note on Thursday, September 12th. Finally, StockNews.com raised Boise Cascade from a "hold" rating to a "buy" rating in a report on Tuesday, October 8th.

Boise Cascade Stock Performance

BCC traded up $1.08 during trading on Friday, reaching $134.11. The company's stock had a trading volume of 222,511 shares, compared to its average volume of 307,918. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The company's fifty day moving average price is $136.18 and its 200-day moving average price is $132.66. Boise Cascade has a 52-week low of $99.11 and a 52-week high of $154.67. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 11.81 and a beta of 1.52.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.16. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $3.67 earnings per share. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts forecast that Boise Cascade will post 9.69 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 0.63%. The ex-dividend date is Monday, December 2nd. Boise Cascade's payout ratio is currently 7.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCC. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade in the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new position in Boise Cascade in the 2nd quarter valued at $36,000. iA Global Asset Management Inc. purchased a new position in shares of Boise Cascade during the 1st quarter worth $82,000. Daiwa Securities Group Inc. boosted its holdings in shares of Boise Cascade by 500.0% during the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company's stock worth $92,000 after purchasing an additional 500 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company's stock valued at $94,000 after purchasing an additional 197 shares during the period. 96.18% of the stock is currently 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.