Boise Cascade (NYSE:BCC) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Boise Cascade (NYSE:BCCFree Report) from a hold rating to a buy rating in a report published on Tuesday morning.

A number of other equities analysts have also recently commented on BCC. Truist Financial lifted their target price on shares of Boise Cascade from $156.00 to $175.00 and gave the stock a buy rating in a research report on Thursday, March 21st. The Goldman Sachs Group increased their target price on Boise Cascade from $114.00 to $129.00 and gave the company a neutral rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $125.00.

Get Our Latest Research Report on BCC

Boise Cascade Stock Down 1.8 %

Shares of NYSE:BCC opened at $133.82 on Tuesday. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 10.88 and a beta of 1.64. Boise Cascade has a one year low of $71.50 and a one year high of $154.67. The firm has a fifty day moving average price of $140.24 and a two-hundred day moving average price of $128.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.26.

Boise Cascade (NYSE:BCCGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.31. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.56 billion. Boise Cascade had a return on equity of 22.08% and a net margin of 7.08%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $2.43 EPS. Analysts anticipate that Boise Cascade will post 11.44 EPS for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Monday, June 3rd. Boise Cascade’s dividend payout ratio is currently 6.50%.

Insider Activity

In related news, EVP Dean Michael Brown sold 11,117 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $139.09, for a total value of $1,546,263.53. Following the transaction, the executive vice president now directly owns 40,237 shares of the company’s stock, valued at approximately $5,596,564.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors have recently added to or reduced their stakes in BCC. SummerHaven Investment Management LLC grew its holdings in Boise Cascade by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,593 shares of the construction company’s stock valued at $982,000 after buying an additional 93 shares in the last quarter. Measured Wealth Private Client Group LLC increased its position in Boise Cascade by 1.8% in the first quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after purchasing an additional 95 shares during the last quarter. New York State Teachers Retirement System raised its stake in Boise Cascade by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 30,844 shares of the construction company’s stock valued at $3,990,000 after purchasing an additional 108 shares in the last quarter. Bridge City Capital LLC lifted its position in Boise Cascade by 0.8% during the first quarter. Bridge City Capital LLC now owns 18,270 shares of the construction company’s stock valued at $2,802,000 after purchasing an additional 143 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Boise Cascade by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 11,272 shares of the construction company’s stock worth $1,161,000 after buying an additional 145 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

About Boise Cascade

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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.

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