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

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.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) has received an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $112.8333.

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

Boise Cascade Stock Performance

NYSE:BCC opened at $88.06 on Thursday. Boise Cascade has a 12 month low of $80.01 and a 12 month high of $155.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.96 and a quick ratio of 1.54. The firm has a market capitalization of $3.29 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 5.29 and a beta of 1.28. The business's fifty day moving average price is $87.27 and its 200 day moving average price is $93.43.

Boise Cascade (NYSE:BCC - Get Free Report) last announced 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 business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.76 billion. Boise Cascade had a return on equity of 12.26% and a net margin of 4.00%.The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.84 earnings per share. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

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

Insider Activity at Boise Cascade

In other news, EVP Troy Little sold 2,033 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $83.10, for a total value of $168,942.30. Following the completion of the sale, the executive vice president directly owned 12,701 shares of the company's stock, valued at approximately $1,055,453.10. The trade was a 13.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jill Twedt sold 1,782 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total value of $149,634.54. Following the completion of the sale, the senior vice president directly owned 32,867 shares of the company's stock, valued at approximately $2,759,841.99. This trade represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,015 shares of company stock worth $602,929. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Boise Cascade by 93.7% in the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after acquiring an additional 444 shares during the period. GAMMA Investing LLC increased its holdings in shares of Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after acquiring an additional 550 shares during the period. Assenagon Asset Management S.A. raised its position in Boise Cascade by 50.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock valued at $2,325,000 after purchasing an additional 7,983 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Boise Cascade in the 4th quarter valued at $728,000. Finally, Deutsche Bank AG boosted its stake in Boise Cascade by 69.0% during the 1st quarter. Deutsche Bank AG now owns 62,823 shares of the construction company's stock worth $6,162,000 after purchasing an additional 25,656 shares during the period. Institutional investors and hedge funds own 96.18% of the company's stock.

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.

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