Boise Cascade (NYSE:BCC) Stock Gets Price Target Trim from Truist Financial

Boise Cascade (NYSE:BCC) had its target price lowered by Truist Financial from $97.00 to $86.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

BCC has been the subject of a number of other reports. Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. The Goldman Sachs Group lifted their price target on Boise Cascade from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Bank of America reduced their price objective on Boise Cascade from $89.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 14th. Loop Capital cut shares of Boise Cascade from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a report on Monday, October 26th. Finally, DA Davidson set a $99.00 price objective on shares of Boise Cascade in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Boise Cascade currently has a consensus rating of “Reduce” and an average price target of $88.17.

Boise Cascade Stock Down 4.8%

NYSE BCC traded down $3.53 during trading on Wednesday, reaching $70.22. 324,041 shares of the company’s stock were exchanged, compared to its average volume of 340,266. The stock has a market cap of $2.45 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71. The company has a 50 day moving average price of $75.81 and a two-hundred day moving average price of $77.02. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97.

Boise Cascade (NYSE:BCC) last released its quarterly earnings data on Monday, November 2nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Boise Cascade had a return on equity of 6.20% and a net margin of 1.83%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $0.58 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Boise Cascade will post 3.20 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Tuesday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, December 1st. Boise Cascade’s dividend payout ratio is currently 26.98%.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares in the company, valued at $2,008,423. The trade was a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is owned by company insiders.

Institutional Trading of Boise Cascade

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its stake in shares of Boise Cascade by 162.5% in the 3rd quarter. Covestor Ltd now owns 504 shares of the construction company’s stock valued at $38,000 after purchasing an additional 312 shares in the last quarter. Nykredit A S acquired a new stake in Boise Cascade in the 2nd quarter valued at approximately $69,000. Signaturefd LLC raised its stake in shares of Boise Cascade by 16.3% during the third quarter. Signaturefd LLC now owns 1,000 shares of the construction company’s stock valued at $74,000 after purchasing an additional 140 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Boise Cascade by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,164 shares of the construction company’s stock worth $86,000 after acquiring an additional 186 shares during the period. Finally, Fulcrum Asset Management LLP boosted its stake in Boise Cascade by 3,704.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,750 shares of the construction company’s stock valued at $133,000 after purchasing an additional 1,704 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.