Boise Cascade (NYSE:BCC) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Boise Cascade (NYSE:BCC) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other equities research analysts also recently commented on the company. BMO Capital Markets raised their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Bank of America lifted their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial boosted their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Loop Capital began coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price objective for the company. Finally, The Goldman Sachs Group cut their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and an average price target of $139.60.

Boise Cascade Stock Performance

Boise Cascade stock opened at $142.32 on Wednesday. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 13.93 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.13 and a quick ratio of 2.08. Boise Cascade has a 12 month low of $102.13 and a 12 month high of $154.67. The stock’s 50-day moving average is $136.52 and its 200-day moving average is $132.65.

Boise Cascade (NYSE:BCC) last announced its earnings results on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.58 earnings per share. Equities analysts anticipate that Boise Cascade will post 9.6 earnings per share for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is presently 8.22%.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Boise Cascade by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 1,757 shares of the construction company’s stock valued at $248,000 after buying an additional 78 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Boise Cascade by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock valued at $927,000 after purchasing an additional 113 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in Boise Cascade by 2.1% in the second quarter. Miller Howard Investments Inc. NY now owns 5,892 shares of the construction company’s stock valued at $702,000 after purchasing an additional 124 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Boise Cascade by 7.3% in the third quarter. First Trust Direct Indexing L.P. now owns 1,893 shares of the construction company’s stock valued at $267,000 after purchasing an additional 128 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Boise Cascade by 1.9% in the second quarter. Bank of Montreal Can now owns 7,456 shares of the construction company’s stock valued at $890,000 after purchasing an additional 137 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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.