The Goldman Sachs Group Cuts Boise Cascade (NYSE:BCC) Price Target to $126.00

Boise Cascade (NYSE:BCC - Free Report) had its price target lowered by The Goldman Sachs Group from $145.00 to $126.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the construction company's stock.

A number of other equities research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. StockNews.com downgraded Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Truist Financial lowered their price objective on Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Loop Capital initiated coverage on Boise Cascade in a research note on Friday, November 1st. They issued a "buy" rating and a $155.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Boise Cascade currently has an average rating of "Hold" and an average target price of $139.60.

Boise Cascade Stock Up 2.4 %

Shares of BCC stock traded up $2.89 during midday trading on Tuesday, reaching $123.40. 333,729 shares of the stock were exchanged, compared to its average volume of 288,285. The firm has a market cap of $4.74 billion, a PE ratio of 12.07 and a beta of 1.58. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company's 50 day moving average is $134.12 and its two-hundred day moving average is $133.00. Boise Cascade has a 1 year low of $113.38 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.58 EPS. On average, equities research analysts predict that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. Boise Cascade's dividend payout ratio (DPR) is presently 8.22%.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently bought and sold shares of BCC. Harbor Capital Advisors Inc. bought a new position in Boise Cascade in the third quarter valued at about $28,000. Larson Financial Group LLC grew its stake in shares of Boise Cascade by 23.9% during the 3rd 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 period. CWM LLC increased its position in shares of Boise Cascade by 26.5% during the 3rd quarter. CWM LLC now owns 673 shares of the construction company's stock valued at $95,000 after purchasing an additional 141 shares during the last quarter. Covestor Ltd lifted its stake in shares of Boise Cascade by 50.1% in the 3rd quarter. Covestor Ltd now owns 689 shares of the construction company's stock worth $97,000 after purchasing an additional 230 shares during the period. Finally, KBC Group NV grew its position in Boise Cascade by 19.0% during the third quarter. KBC Group NV now owns 1,226 shares of the construction company's stock valued at $173,000 after buying an additional 196 shares during the period. Institutional investors own 96.18% of the company's stock.

About Boise Cascade

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.