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

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

Several other equities analysts have also recently weighed in on BCC. The Goldman Sachs Group decreased their price objective on Boise Cascade from $140.00 to $122.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Bank of America boosted their price objective on Boise Cascade from $120.00 to $124.00 and gave the stock an underperform rating in a report on Thursday, September 12th. Finally, Truist Financial reiterated a buy rating and issued a $154.00 price target (down from $159.00) on shares of Boise Cascade in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Boise Cascade currently has an average rating of Hold and a consensus price target of $128.00.

Boise Cascade Stock Down 2.4 %

Shares of BCC opened at $138.95 on Tuesday. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The business’s fifty day moving average price is $132.98 and its two-hundred day moving average price is $134.02. Boise Cascade has a 52 week low of $87.32 and a 52 week high of $154.67.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.68 by $0.16. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.67 EPS. On average, analysts predict that Boise Cascade will post 9.71 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio is currently 6.83%.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC boosted its holdings in Boise Cascade by 1.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,273 shares of the construction company’s stock worth $809,000 after buying an additional 95 shares during the period. SummerHaven Investment Management LLC grew its holdings in Boise Cascade by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,776 shares of the construction company’s stock worth $927,000 after acquiring an additional 113 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Boise Cascade by 2.1% during the 2nd 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. Bank of Montreal Can boosted its stake in shares of Boise Cascade by 1.9% during the 2nd 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. Finally, MorganRosel Wealth Management LLC boosted its stake in shares of Boise Cascade by 1.8% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 7,756 shares of the construction company’s stock valued at $925,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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.