Boise Cascade, L.L.C. (NYSE:BCC) Receives $102.50 Average PT from Brokerages

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $102.50.

BCC has been the topic of several recent analyst reports. BMO Capital Markets upgraded Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Wednesday, November 5th. Truist Financial reduced their target price on Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. DA Davidson reiterated a “buy” rating and set a $95.00 target price on shares of Boise Cascade in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Boise Cascade in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Boise Cascade by 7.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 347,301 shares of the construction company’s stock worth $26,853,000 after buying an additional 25,452 shares during the period. CIBC Private Wealth Group LLC lifted its stake in Boise Cascade by 662.4% in the third quarter. CIBC Private Wealth Group LLC now owns 648 shares of the construction company’s stock worth $50,000 after acquiring an additional 563 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Boise Cascade in the third quarter worth about $311,000. Danske Bank A S bought a new position in Boise Cascade during the 3rd quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Boise Cascade by 231.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Price Performance

Boise Cascade stock opened at $74.20 on Wednesday. Boise Cascade has a 12-month low of $65.14 and a 12-month high of $131.27. The company has a current ratio of 3.10, a quick ratio of 1.69 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $72.79 and a 200-day moving average price of $79.75. The firm has a market capitalization of $2.75 billion, a PE ratio of 14.66 and a beta of 1.27.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a net margin of 2.96% and a return on equity of 9.00%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. As a group, equities research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, December 1st. Boise Cascade’s payout ratio is currently 17.39%.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.