Boise Cascade, L.L.C. (NYSE:BCC) Receives $93.60 Average Target Price from Analysts

Boise Cascade, L.L.C. (NYSE:BCC) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $93.60.

Several research analysts have recently issued reports on the company. Zacks Research downgraded Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. DA Davidson upped their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group upped their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th.

Boise Cascade Trading Down 1.3%

Shares of BCC stock opened at $75.85 on Monday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.03 and a beta of 1.08. Boise Cascade has a twelve month low of $65.00 and a twelve month high of $91.97. The company has a quick ratio of 1.31, a current ratio of 2.71 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $78.94 and its 200 day simple moving average is $76.09.

Boise Cascade (NYSE:BCC) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.23 by $0.40. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.64 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Boise Cascade will post 3.86 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a $0.23 dividend. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Boise Cascade’s payout ratio is presently 31.19%.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 1,250 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the transaction, the senior vice president directly owned 25,295 shares of the company’s stock, valued at $2,008,423. This trade represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristopher Matula sold 1,930 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Boise Cascade by 4.0% in the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company’s stock worth $3,404,000 after acquiring an additional 1,332 shares during the period. AQR Capital Management LLC increased its position in Boise Cascade by 8.8% during the 1st quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company’s stock valued at $3,594,000 after purchasing an additional 2,966 shares during the period. Jones Financial Companies Lllp increased its position in Boise Cascade by 1,638.4% during the 1st quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company’s stock valued at $404,000 after purchasing an additional 3,883 shares during the period. United Services Automobile Association bought a new position in Boise Cascade during the 1st quarter worth approximately $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Boise Cascade by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company’s stock worth $19,974,000 after purchasing an additional 3,978 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Company Profile

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.