Boise Cascade (NYSE:BCC) Receives Consensus Recommendation of “Hold” from Analysts

Boise Cascade (NYSE:BCCGet Rating) has been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $72.25.

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of Boise Cascade from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 4th. Bank of America cut shares of Boise Cascade from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a report on Thursday, June 23rd. Benchmark cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. The Goldman Sachs Group dropped their price objective on shares of Boise Cascade from $88.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, June 23rd. Finally, Truist Financial began coverage on shares of Boise Cascade in a report on Wednesday. They set a “hold” rating and a $64.00 price target for the company.

Several large investors have recently modified their holdings of BCC. Morgan Stanley lifted its position in shares of Boise Cascade by 12.1% during the 3rd quarter. Morgan Stanley now owns 322,903 shares of the construction company’s stock worth $17,432,000 after buying an additional 34,737 shares during the last quarter. Voloridge Investment Management LLC raised its position in Boise Cascade by 22.0% in the 3rd quarter. Voloridge Investment Management LLC now owns 48,735 shares of the construction company’s stock valued at $2,631,000 after purchasing an additional 8,788 shares during the last quarter. UBS Group AG raised its position in Boise Cascade by 18.5% in the 3rd quarter. UBS Group AG now owns 104,068 shares of the construction company’s stock valued at $5,618,000 after purchasing an additional 16,271 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Boise Cascade by 86.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 41,261 shares of the construction company’s stock valued at $2,227,000 after purchasing an additional 19,146 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Boise Cascade by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 586,780 shares of the construction company’s stock valued at $31,674,000 after purchasing an additional 8,873 shares during the last quarter. Institutional investors and hedge funds own 91.42% of the company’s stock.

Shares of BCC opened at $59.42 on Wednesday. Boise Cascade has a 1-year low of $46.51 and a 1-year high of $85.17. The stock has a market cap of $2.34 billion, a PE ratio of 2.73, a P/E/G ratio of 1.40 and a beta of 1.50. The firm has a 50-day simple moving average of $75.16 and a two-hundred day simple moving average of $74.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 1.84.

Boise Cascade (NYSE:BCCGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The construction company reported $7.61 earnings per share for the quarter, beating analysts’ consensus estimates of $6.95 by $0.66. Boise Cascade had a net margin of 10.27% and a return on equity of 62.72%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $3.76 earnings per share. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. As a group, sell-side analysts expect that Boise Cascade will post 18.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a dividend of $2.62 per share. This represents a $10.48 annualized dividend and a dividend yield of 17.64%. The ex-dividend date of this dividend was Tuesday, May 31st. This is an increase from Boise Cascade’s previous quarterly dividend of $0.12. Boise Cascade’s payout ratio is currently 2.20%.

About Boise Cascade (Get Rating)

Boise Cascade Company manufactures wood products and distributes 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 lumber products.

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Analyst Recommendations for Boise Cascade (NYSE:BCC)

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