Truist Financial Cuts Boise Cascade (NYSE:BCC) Price Target to $118.00

Boise Cascade (NYSE:BCC) had its price objective trimmed by Truist Financial from $134.00 to $118.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other research analysts also recently issued reports on BCC. Loop Capital lowered their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research note on Tuesday, February 25th. DA Davidson dropped their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group decreased their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, BMO Capital Markets dropped their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $125.00.

Boise Cascade Stock Performance

NYSE BCC opened at $92.79 on Tuesday. The company has a fifty day moving average of $100.53 and a two-hundred day moving average of $121.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 1 year low of $87.84 and a 1 year high of $155.42. The company has a market capitalization of $3.53 billion, a PE ratio of 9.71 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. As a group, analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, February 24th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Monday, February 24th. Boise Cascade’s dividend payout ratio is currently 8.79%.

Insider Buying and Selling

In related news, Director Kristopher J. Matula sold 553 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the sale, the director now owns 13,099 shares of the company’s stock, valued at $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey Robert Strom sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the transaction, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently modified their holdings of BCC. R Squared Ltd purchased a new position in shares of Boise Cascade during the 4th quarter worth $29,000. Quarry LP boosted its stake in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after buying an additional 211 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Boise Cascade by 338.5% during the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company’s stock valued at $47,000 after acquiring an additional 369 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Boise Cascade by 44.2% during the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares during the period. Finally, Blue Trust Inc. grew its holdings in Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock valued at $90,000 after purchasing an additional 444 shares during the period. Hedge funds and other 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.