Boise Cascade, L.L.C. (NYSE:BCC) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Boise Cascade, with two sell, one hold, three buy and one strong-buy ratings. The average 12-month price target is $93.60 versus the stock’s reported $84.21 price.
• Boise Cascade exceeded quarterly expectations, reporting adjusted earnings of $1.63 per share and $1.83 billion in revenue, while revenue increased 5.2% year over year.
• The company raised its quarterly dividend to $0.23 per share, equivalent to a $0.92 annualized payout and a 1.1% yield; institutional investors own 96.18% of outstanding shares.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) has been assigned an average rating of "Hold" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $93.60.

Several brokerages have recently weighed in on BCC. Zacks Research upgraded shares of Boise Cascade from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Wall Street Zen raised shares of Boise Cascade from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Truist Financial set a $97.00 price target on shares of Boise Cascade in a research note on Wednesday, May 6th. Weiss Ratings downgraded Boise Cascade from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 3rd. Finally, Bank of America upped their price objective on Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a research note on Tuesday, July 14th.

Insiders Place Their Bets

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the company'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 sale, the director directly owned 13,982 shares in the company, valued at $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently made changes to their positions in BCC. Caitong International Asset Management Co. Ltd grew its position in Boise Cascade by 231.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after acquiring an additional 259 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Boise Cascade by 77.5% during the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock worth $30,000 after buying an additional 179 shares during the period. Advisory Services Network LLC acquired a new stake in Boise Cascade during the 3rd quarter worth $38,000. UMB Bank n.a. grew its stake in shares of Boise Cascade by 98.5% during the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock worth $39,000 after purchasing an additional 260 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in shares of Boise Cascade in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 96.18% of the company's stock.

Boise Cascade Stock Performance

BCC opened at $84.21 on Thursday. The stock's 50 day simple moving average is $76.30 and its 200-day simple moving average is $76.92. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.94 billion, a PE ratio of 28.55, a P/E/G ratio of 1.15 and a beta of 1.10. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.40. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The business's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 earnings per share. Sell-side analysts forecast that Boise Cascade will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.92 annualized dividend and a yield of 1.1%. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's payout ratio is presently 31.19%.

About Boise Cascade

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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