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

Key Points

• Consensus rating: Seven brokerages give Boise Cascade a "Moderate Buy" (five buys, two holds) with an average 12‑month price target of $105.67.
• Heavy institutional ownership: About 96.18% of the stock is held by hedge funds and institutional investors, with recent stake increases from RBC, AQR, UBS and others.
• Current trading and payout: BCC opened at $80.72, trades in a 52‑week range of $65.14–$98.20, has a market cap of $2.89B and a PE of 22.93, and pays a quarterly dividend of $0.22 (annual yield ~1.1%, 25% payout ratio).

Shares of Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $105.6667.

BCC has been the topic of a number of recent research reports. Truist Financial upped their price objective on Boise Cascade from $92.00 to $103.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. BMO Capital Markets restated an "outperform" rating on shares of Boise Cascade in a research report on Thursday, January 8th. Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 30th. Wall Street Zen upgraded Boise Cascade from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, DA Davidson restated a "buy" rating and set a $95.00 price objective on shares of Boise Cascade in a research report on Tuesday, February 24th.

Institutional Investors Weigh In On Boise Cascade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCC. Royal Bank of Canada raised its holdings in shares of Boise Cascade by 4.0% in the first quarter. Royal Bank of Canada now owns 34,704 shares of the construction company's stock worth $3,404,000 after buying an additional 1,332 shares during the period. AQR Capital Management LLC raised its holdings in shares of Boise Cascade by 8.8% in the first quarter. AQR Capital Management LLC now owns 36,639 shares of the construction company's stock worth $3,594,000 after buying an additional 2,966 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Boise Cascade by 1,638.4% in the first quarter. Jones Financial Companies Lllp now owns 4,120 shares of the construction company's stock worth $404,000 after buying an additional 3,883 shares during the period. United Services Automobile Association purchased a new stake in shares of Boise Cascade in the first quarter worth approximately $258,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Boise Cascade by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 203,631 shares of the construction company's stock worth $19,974,000 after buying an additional 3,978 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Trading Up 1.9%

Shares of BCC stock opened at $80.72 on Friday. Boise Cascade has a 1 year low of $65.14 and a 1 year high of $98.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.36 and a quick ratio of 1.74. The stock's 50 day simple moving average is $79.12 and its two-hundred day simple moving average is $76.56. The company has a market cap of $2.89 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, February 23rd were given a dividend of $0.22 per share. The ex-dividend date was Monday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. Boise Cascade's dividend payout ratio is 25.00%.

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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