Analysts Set Boise Cascade, L.L.C. (NYSE:BCC) Target Price at $110.67

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $110.6667.

BCC has been the subject of a number of recent research reports. DA Davidson cut their price objective on Boise Cascade from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Bank of America cut their price objective on Boise Cascade from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Wednesday, July 9th. Truist Financial cut their price objective on Boise Cascade from $101.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $100.00 price objective on shares of Boise Cascade in a research note on Tuesday, September 16th.

Boise Cascade Trading Up 0.5%

Boise Cascade stock opened at $77.06 on Monday. The business has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $89.37. The company has a market cap of $2.88 billion, a P/E ratio of 11.32, a P/E/G ratio of 5.25 and a beta of 1.33. Boise Cascade has a 52-week low of $76.21 and a 52-week high of $155.42. The company has a quick ratio of 1.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.21.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.05). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.84 earnings per share. Analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. This is a boost from Boise Cascade’s previous quarterly dividend of $0.21. Boise Cascade’s payout ratio is presently 12.92%.

Insider Buying and Selling

In related news, SVP Jill Twedt sold 1,782 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total value of $149,634.54. Following the transaction, the senior vice president directly owned 32,867 shares of the company’s stock, valued at approximately $2,759,841.99. The trade was a 5.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey Robert Strom sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 37,026 shares in the company, valued at approximately $3,371,587.56. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,815 shares of company stock valued at $409,637. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Boise Cascade

Hedge funds have recently modified their holdings of the company. Huntington National Bank increased its position in shares of Boise Cascade by 630.0% during the 2nd quarter. Huntington National Bank now owns 438 shares of the construction company’s stock valued at $38,000 after purchasing an additional 378 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Boise Cascade by 120.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company’s stock worth $40,000 after purchasing an additional 222 shares during the period. RMG Wealth Management LLC purchased a new position in shares of Boise Cascade during the second quarter valued at $42,000. Farther Finance Advisors LLC increased its stake in shares of Boise Cascade by 338.5% during the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company’s stock valued at $47,000 after buying an additional 369 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Boise Cascade by 93.7% during the first quarter. Blue Trust Inc. now owns 918 shares of the construction company’s stock valued at $90,000 after buying an additional 444 shares during the period. 96.18% of the stock is owned by hedge funds and other 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.