BMO Capital Markets Cuts Boise Cascade (NYSE:BCC) Price Target to $122.00

Boise Cascade (NYSE:BCC) had its price objective reduced by BMO Capital Markets from $136.00 to $122.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the construction company’s stock.

BCC has been the subject of several other research reports. Benchmark reissued a “hold” rating on shares of Boise Cascade in a report on Tuesday. StockNews.com downgraded shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. DA Davidson reduced their price objective on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group reduced their price objective on shares of Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Loop Capital reduced their price objective on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Stock Performance

Boise Cascade stock opened at $102.71 on Tuesday. The company has a market cap of $3.90 billion, a PE ratio of 10.74 and a beta of 1.57. The company has a fifty day moving average price of $121.11 and a two-hundred day moving average price of $131.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.34 and a quick ratio of 1.92. Boise Cascade has a 12 month low of $102.17 and a 12 month high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.57 billion. Research analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Monday, February 24th. Boise Cascade’s payout ratio is 8.79%.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by corporate insiders.

Institutional Trading of Boise Cascade

A number of hedge funds have recently bought and sold shares of BCC. Norges Bank purchased a new stake in Boise Cascade during the fourth quarter valued at about $55,680,000. First Trust Advisors LP lifted its position in shares of Boise Cascade by 37.9% in the fourth 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 in the last quarter. American Century Companies Inc. lifted its position in shares of Boise Cascade by 12.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock worth $134,831,000 after purchasing an additional 121,790 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Boise Cascade by 1,597.4% in the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock worth $17,907,000 after purchasing an additional 119,103 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Boise Cascade by 534.5% in the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock worth $11,921,000 after purchasing an additional 84,487 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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.