Boise Cascade, L.L.C. (NYSE:BCC) Receives Average Rating of “Moderate Buy” from Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $101.8333.

BCC has been the subject of a number of research reports. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Wall Street Zen cut Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Truist Financial upped their target price on Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boise Cascade in a research note on Monday, December 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a report on Thursday, November 20th.

Institutional Trading of Boise Cascade

Several hedge funds and other institutional investors have recently modified their holdings of BCC. American Century Companies Inc. grew its position in Boise Cascade by 4.5% in the second quarter. American Century Companies Inc. now owns 1,281,435 shares of the construction company’s stock worth $111,254,000 after acquiring an additional 55,052 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Boise Cascade in the second quarter valued at approximately $2,342,000. Westwood Holdings Group Inc. boosted its holdings in shares of Boise Cascade by 9.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,645,026 shares of the construction company’s stock worth $142,821,000 after buying an additional 145,721 shares during the period. Public Employees Retirement System of Ohio lifted its position in Boise Cascade by 12.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,811 shares of the construction company’s stock worth $3,456,000 after acquiring an additional 4,414 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Boise Cascade by 4.4% in the second quarter. Advisors Asset Management Inc. now owns 103,682 shares of the construction company’s stock valued at $9,002,000 after purchasing an additional 4,387 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Trading Down 1.5%

Shares of Boise Cascade stock opened at $84.25 on Friday. The company has a quick ratio of 1.69, a current ratio of 3.10 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 16.65 and a beta of 1.27. The business has a fifty day simple moving average of $76.37 and a 200-day simple moving average of $79.07. Boise Cascade has a fifty-two week low of $65.14 and a fifty-two week high of $129.74.

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

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Monday, December 1st were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Boise Cascade’s dividend payout ratio (DPR) is currently 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.