Boise Cascade’s (BCC) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Boise Cascade (NYSE:BCC) in a research note released on Tuesday,Benzinga reports. They currently have a $95.00 price target on the construction company’s stock.

A number of other equities research analysts also recently issued reports on BCC. Truist Financial upped their price objective on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings upgraded Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Boise Cascade has an average rating of “Moderate Buy” and an average price target of $105.67.

Boise Cascade Price Performance

BCC stock opened at $83.69 on Tuesday. Boise Cascade has a 52 week low of $65.14 and a 52 week high of $106.41. The firm has a market capitalization of $2.99 billion, a P/E ratio of 23.78 and a beta of 1.27. The company has a fifty day simple moving average of $81.93 and a two-hundred day simple moving average of $78.94. The company has a quick ratio of 1.69, a current ratio of 3.36 and a debt-to-equity ratio of 0.22.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. Boise Cascade’s dividend payout ratio (DPR) is presently 25.00%.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of Boise Cascade by 1.3% in the fourth quarter. Invesco Ltd. now owns 202,488 shares of the construction company’s stock valued at $14,903,000 after purchasing an additional 2,640 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Boise Cascade in the 4th quarter worth $425,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Boise Cascade by 2.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 33,481 shares of the construction company’s stock worth $2,464,000 after buying an additional 934 shares during the period. XTX Topco Ltd bought a new position in shares of Boise Cascade during the 4th quarter worth $4,029,000. Finally, Concentric Capital Strategies LP increased its stake in shares of Boise Cascade by 202.0% during the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock valued at $31,293,000 after buying an additional 284,406 shares during the period. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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.