Boise Cascade (NYSE:BCC) Hits New 1-Year Low – Should You Sell?

Shares of Boise Cascade (NYSE:BCC) reached a new 52-week low during trading on Friday . The company traded as low as $113.38 and last traded at $115.69, with a volume of 14336 shares trading hands. The stock had previously closed at $117.40.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. Truist Financial decreased their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets increased their price target on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.80.

Boise Cascade Stock Down 1.9 %

The firm has a market cap of $4.42 billion, a PE ratio of 11.27 and a beta of 1.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The company’s 50-day simple moving average is $135.08 and its two-hundred day simple moving average is $132.93.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). Boise Cascade had a net margin of 5.95% and a return on equity of 18.24%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm earned $3.58 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts predict that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is currently 8.22%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BCC. Oliver Luxxe Assets LLC increased its position in shares of Boise Cascade by 5.4% during the fourth quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company’s stock valued at $4,882,000 after buying an additional 2,097 shares during the period. Nordea Investment Management AB grew its holdings in shares of Boise Cascade by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after acquiring an additional 5,779 shares during the period. Franklin Resources Inc. raised its position in shares of Boise Cascade by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock worth $6,285,000 after acquiring an additional 335 shares in the last quarter. Tidal Investments LLC raised its position in shares of Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock worth $2,229,000 after acquiring an additional 12,231 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in shares of Boise Cascade in the 3rd quarter valued at approximately $3,995,000. 96.18% of the stock is currently 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.