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

Key Points

• Boise Cascade has a “Moderate Buy” consensus rating from seven analysts, with four buy ratings and three hold ratings. The average 12-month price target is $98.00.
• The company reported better-than-expected first-quarter results, earning $0.50 per share versus estimates of $0.43 and posting revenue of $1.50 billion versus expectations of $1.46 billion. However, revenue was still down 2.5% from a year earlier.
• SVP Jill Twedt sold 6,070 shares at an average price of $66.45, reducing her ownership by 18.61%. The company also announced a quarterly dividend of $0.22 per share, payable June 17.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the stock, Marketbeat.com 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 target price among brokers that have issued ratings on the stock in the last year is $98.00.

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Boise Cascade from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Truist Financial set a $97.00 price objective on shares of Boise Cascade in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. The Goldman Sachs Group lifted their price target on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded shares of Boise Cascade from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of Boise Cascade stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total value of $403,351.50. Following the completion of the sale, the senior vice president directly owned 26,545 shares in the company, valued at $1,763,915.25. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.42% of the stock is owned by corporate insiders.

Institutional Trading of Boise Cascade

A number of large investors have recently made changes to their positions in BCC. Cerity Partners LLC increased its stake in Boise Cascade by 3.8% in 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 during the period. Raymond James Financial Inc. increased its stake in Boise Cascade by 1.0% in 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 during the period. PNC Financial Services Group Inc. grew its holdings in Boise Cascade by 6.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company's stock worth $211,000 after acquiring an additional 158 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Boise Cascade by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company's stock worth $663,000 after acquiring an additional 163 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Boise Cascade by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company's stock worth $1,558,000 after acquiring an additional 164 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Stock Down 0.5%

Shares of Boise Cascade stock opened at $69.98 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.37. The company has a 50-day moving average of $74.46 and a 200 day moving average of $76.81. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.05 and a beta of 1.15. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $95.00.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.07. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. Boise Cascade's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. As a group, sell-side analysts anticipate that Boise Cascade will post 3.67 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st will be paid a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. Boise Cascade's payout ratio is currently 29.73%.

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.

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