Boise Cascade, L.L.C. (NYSE:BCC) Receives $105.67 Average Price Target from Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $105.6667.

BCC has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. DA Davidson reissued a “buy” rating and set a $95.00 price target on shares of Boise Cascade in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research note on Thursday, January 8th.

Institutional Investors Weigh In On Boise Cascade

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

Boise Cascade Price Performance

Shares of Boise Cascade stock opened at $68.35 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74. Boise Cascade has a one year low of $65.14 and a one year high of $103.44. The business’s 50 day simple moving average is $81.58 and its two-hundred day simple moving average is $77.54. The stock has a market capitalization of $2.45 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.00 and a beta of 1.26.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, February 23rd were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, February 23rd. Boise Cascade’s payout ratio is currently 25.00%.

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.