Boise Cascade, L.L.C. (NYSE:BCC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have received an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $105.6667.

A number of research analysts recently issued reports on BCC shares. Wall Street Zen upgraded Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings cut Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Truist Financial lifted their price objective on Boise Cascade from $92.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group boosted their target price on Boise Cascade from $85.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $95.00 price target on shares of Boise Cascade in a research note on Tuesday, February 24th.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Boise Cascade during the fourth quarter valued at about $42,146,000. Wellington Management Group LLP lifted its holdings in Boise Cascade by 19.8% in the third quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after buying an additional 539,962 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Boise Cascade by 214,282.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 420,189 shares of the construction company’s stock valued at $30,926,000 after acquiring an additional 419,993 shares in the last quarter. Concentric Capital Strategies LP boosted its position in Boise Cascade by 202.0% during the 4th quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock valued at $31,293,000 after acquiring an additional 284,406 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Boise Cascade by 377.6% during the 3rd quarter. Two Sigma Investments LP now owns 292,556 shares of the construction company’s stock worth $22,620,000 after acquiring an additional 231,302 shares during the period. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Price Performance

BCC stock opened at $69.92 on Monday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 0.96 and a beta of 1.26. The firm’s 50-day moving average price is $82.23 and its two-hundred day moving average price is $77.98. The company has a current ratio of 3.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.22. Boise Cascade has a 12-month low of $65.14 and a 12-month high of $103.44.

Boise Cascade Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd will be issued a $0.22 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.88 annualized dividend and a yield of 1.3%. Boise Cascade’s dividend payout ratio is 25.00%.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.