Boise Cascade, L.L.C. (NYSE:BCC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $102.50.

A number of analysts have weighed in on BCC shares. Truist Financial cut their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Wall Street Zen lowered shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. The Goldman Sachs Group reduced their price target on shares of Boise Cascade from $96.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. BMO Capital Markets raised Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Boise Cascade in a research report on Monday.

Institutional Investors Weigh In On Boise Cascade

Several large investors have recently modified their holdings of BCC. Salomon & Ludwin LLC purchased a new position in shares of Boise Cascade during the third quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd boosted its stake 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 worth $29,000 after purchasing an additional 259 shares during the period. Huntington National Bank grew its position in Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock worth $38,000 after purchasing an additional 378 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Boise Cascade by 1,071.4% in the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after purchasing an additional 450 shares during the period. Finally, Advisory Services Network LLC acquired a new position in Boise Cascade in the third quarter valued at $38,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Trading Down 1.0%

BCC opened at $73.81 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10. Boise Cascade has a one year low of $65.14 and a one year high of $131.27. The company has a market cap of $2.73 billion, a P/E ratio of 14.59 and a beta of 1.27. The business’s 50-day simple moving average is $72.68 and its 200-day simple moving average is $79.98.

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

Boise Cascade Announces Dividend

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

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.