Boise Cascade (NYSE:BCC) Price Target Lowered to $135.00 at Loop Capital

Boise Cascade (NYSE:BCC) had its price objective cut by Loop Capital from $140.00 to $135.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

BCC has been the subject of several other reports. The Goldman Sachs Group dropped their price objective on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets dropped their price target on Boise Cascade from $136.00 to $122.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a report on Tuesday, February 25th. Truist Financial cut their price target on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, DA Davidson reduced their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $127.67.

Boise Cascade Price Performance

Boise Cascade stock opened at $94.81 on Monday. The company has a market capitalization of $3.60 billion, a PE ratio of 9.92 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. The business has a 50 day simple moving average of $104.07 and a 200 day simple moving average of $123.61. Boise Cascade has a one year low of $87.84 and a one year high of $155.42.

Boise Cascade (NYSE:BCC) last posted its earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. On average, sell-side analysts forecast that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.89%. Boise Cascade’s payout ratio is 8.79%.

Insider Activity at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total transaction of $450,945.00. Following the sale, the chief operating officer now directly owns 38,026 shares in the company, valued at approximately $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now directly owns 13,099 shares of the company’s stock, valued at approximately $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Boise Cascade in the fourth quarter valued at approximately $55,680,000. First Trust Advisors LP raised its holdings in shares of Boise Cascade by 37.9% in the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock worth $84,691,000 after purchasing an additional 195,773 shares during the period. GAMMA Investing LLC boosted its position in Boise Cascade by 15,650.6% during the first quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company’s stock worth $14,028,000 after purchasing an additional 142,107 shares during the period. American Century Companies Inc. raised its holdings in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after acquiring an additional 121,790 shares during the period. Finally, Tidal Investments LLC grew its holdings in Boise Cascade by 534.5% during the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after buying an additional 84,487 shares in the last quarter. 96.18% of the stock is owned by institutional investors.

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.