Brokerages Set Boise Cascade, L.L.C. (NYSE:BCC) Price Target at $110.67

Key Points

• Boise Cascade has received a consensus rating of "Moderate Buy" from seven brokerages, with an average twelve-month target price of $110.67.
• The company recently announced a quarterly dividend increase to $0.22, providing an annualized yield of 1.1% and demonstrating a low payout ratio of 12.92%.
• In its last quarterly earnings report, Boise Cascade missed EPS estimates, posting $1.64 compared to the expected $1.69, and reported a 3.2% decline in revenue year-over-year.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $110.6667.

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their price target on Boise Cascade from $101.00 to $96.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Bank of America decreased their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note 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 for the company in a research report on Friday, July 18th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $100.00 target price on shares of Boise Cascade in a research note on Tuesday, September 16th.

Boise Cascade Stock Performance

Shares of NYSE BCC traded up $0.10 during midday trading on Monday, reaching $79.57. 581,944 shares of the company traded hands, compared to its average volume of 324,177. The stock has a 50-day moving average price of $85.54 and a 200 day moving average price of $89.94. 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 company has a market cap of $2.97 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 5.41 and a beta of 1.33. Boise Cascade has a 52 week low of $78.44 and a 52 week high of $155.42.

Boise Cascade (NYSE:BCC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.05). The firm had revenue of $1.74 billion during 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 quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.84 EPS. Sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's payout ratio is currently 12.92%.

Insider Activity at Boise Cascade

In other Boise Cascade news, COO Jeffrey Robert Strom sold 1,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $91.06, for a total transaction of $91,060.00. Following the completion of the transaction, the chief operating officer directly owned 37,026 shares of the company's stock, valued at $3,371,587.56. The trade was a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,782 shares of Boise Cascade stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $83.97, for a total transaction of $149,634.54. Following the sale, the senior vice president directly owned 32,867 shares of the company's stock, valued at $2,759,841.99. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,815 shares of company stock valued at $409,637. 1.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently added to or reduced their stakes in BCC. Blue Trust Inc. increased 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 purchasing an additional 444 shares during the period. GAMMA Investing LLC boosted its holdings in Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock worth $143,000 after acquiring an additional 550 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Boise Cascade by 50.8% during the first 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 period. Caxton Associates LLP acquired a new position in shares of Boise Cascade in the 1st quarter valued at about $1,402,000. Finally, Intech Investment Management LLC lifted its position in shares of Boise Cascade by 13.4% during the 1st quarter. Intech Investment Management LLC now owns 41,941 shares of the construction company's stock worth $4,114,000 after purchasing an additional 4,963 shares during the last quarter. Hedge funds and other institutional investors 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.