Boise Cascade, L.L.C. (NYSE:BCC) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Boise Cascade has been rated an average of "Moderate Buy" by brokerages, with four analysts issuing buy ratings and three holding the position.
• The company recently reported earnings per share (EPS) of $1.64 for the quarter, falling short of the consensus estimate of $1.69.
• Boise Cascade has raised its quarterly dividend to $0.22, reflecting an annualized yield of 1.0%, up from the previous $0.21 dividend.

Shares of Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $112.8333.

A number of research firms have issued reports on BCC. BMO Capital Markets reduced their price objective on Boise Cascade from $114.00 to $108.00 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. DA Davidson lowered their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 18th. Truist Financial decreased their price target on Boise Cascade from $106.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Bank of America cut their price objective on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th.

Boise Cascade Trading Down 1.4%

BCC stock traded down $1.19 on Thursday, reaching $85.81. The company's stock had a trading volume of 241,891 shares, compared to its average volume of 376,445. The business has a fifty day simple moving average of $87.25 and a two-hundred day simple moving average of $92.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.96. The firm has a market cap of $3.20 billion, a PE ratio of 12.60, a PEG ratio of 5.18 and a beta of 1.33. Boise Cascade has a 12-month low of $80.01 and a 12-month high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.05). The company 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%. Boise Cascade's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.84 earnings per share. As a group, research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.0%. Boise Cascade's dividend payout ratio is 12.33%.

Insider Transactions at Boise Cascade

In related news, EVP Joanna L. Barney sold 1,000 shares of Boise Cascade stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the transaction, the executive vice president owned 12,372 shares in the company, valued at approximately $1,084,776.96. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey Robert Strom sold 1,000 shares of Boise Cascade 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 transaction, the chief operating officer owned 37,026 shares in the company, valued at approximately $3,371,587.56. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,015 shares of company stock worth $602,929. 1.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. lifted its holdings in Boise Cascade by 3.4% during the 4th quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock worth $359,000 after buying an additional 100 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Boise Cascade by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock valued at $658,000 after acquiring an additional 114 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Boise Cascade by 3.8% during the 2nd quarter. Cerity Partners LLC now owns 3,274 shares of the construction company's stock worth $284,000 after buying an additional 121 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Boise Cascade by 1.0% during the 2nd quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company's stock worth $1,148,000 after buying an additional 126 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Boise Cascade by 5.7% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,800 shares of the construction company's stock worth $243,000 after buying an additional 152 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Company Profile

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.