Brokerages Set Boise Cascade, L.L.C. (NYSE:BCC) Price Target at $98.00

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $98.00.

Several equities analysts have commented on the stock. Zacks Research upgraded shares of Boise Cascade from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group upped their target price on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Weiss Ratings upgraded shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research note on Wednesday, May 6th.

Insiders Place Their Bets

In other Boise Cascade news, SVP Jill Twedt sold 6,070 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the completion of the transaction, the senior vice president owned 26,545 shares in the company, valued at approximately $1,763,915.25. This represents a 18.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings in Boise Cascade by 231.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after acquiring an additional 259 shares during the period. Fifth Third Bancorp boosted its holdings in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after buying an additional 179 shares in the last quarter. Hantz Financial Services Inc. grew its position in Boise Cascade by 1,071.4% during the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after buying an additional 450 shares during the period. Advisory Services Network LLC acquired a new position in Boise Cascade during the third quarter worth about $38,000. Finally, UMB Bank n.a. increased its holdings in Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Price Performance

Shares of BCC opened at $68.18 on Friday. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.02 and a beta of 1.09. The firm’s fifty day simple moving average is $74.15 and its 200-day simple moving average is $76.78. Boise Cascade has a twelve month low of $65.00 and a twelve month high of $95.00. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC) last issued its earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Equities analysts forecast that Boise Cascade will post 3.67 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, June 1st. Boise Cascade’s dividend payout ratio is 29.73%.

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.