Boise Cascade, L.L.C. (NYSE:BCC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $102.50.

A number of research firms recently weighed in on BCC. Weiss Ratings lowered Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Wall Street Zen downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Truist Financial dropped their price objective on shares of Boise Cascade from $101.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. BMO Capital Markets raised shares of Boise Cascade from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Wednesday, November 5th. Finally, DA Davidson decreased their price target on shares of Boise Cascade from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 24th.

Insiders Place Their Bets

In related news, COO Jeffrey Robert Strom sold 1,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $91.06, for a total value of $91,060.00. Following the completion of the sale, the chief operating officer directly owned 37,026 shares in the company, valued at $3,371,587.56. The trade was a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BCC. Salomon & Ludwin LLC bought a new stake in shares of Boise Cascade in the third quarter valued at about $28,000. Huntington National Bank raised its stake in Boise Cascade by 630.0% in the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock worth $38,000 after purchasing an additional 378 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Boise Cascade by 1,071.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after purchasing an additional 450 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock valued at $40,000 after purchasing an additional 222 shares during the period. Finally, RMG Wealth Management LLC acquired a new position in shares of Boise Cascade during the 2nd quarter worth approximately $42,000. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Trading Down 1.3%

Shares of NYSE:BCC opened at $69.75 on Tuesday. Boise Cascade has a 52-week low of $65.62 and a 52-week high of $155.42. The company has a market capitalization of $2.58 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 5.84 and a beta of 1.27. The company has a 50-day simple moving average of $76.75 and a 200 day simple moving average of $84.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.69 and a current ratio of 3.10.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 3rd. The construction company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Boise Cascade had a return on equity of 9.00% and a net margin of 2.96%.The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 earnings per share. Sell-side analysts forecast that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. Boise Cascade’s dividend payout ratio (DPR) is 17.39%.

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.