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

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $120.17.

A number of analysts have recently issued reports on BCC shares. Loop Capital reduced their price objective on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Bank of America cut 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. Finally, Truist Financial lowered their price objective on Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research report on Tuesday.

Boise Cascade Stock Performance

NYSE BCC traded up $0.99 on Wednesday, hitting $93.36. 468,214 shares of the company traded hands, compared to its average volume of 325,940. The business's 50 day moving average price is $88.96 and its 200-day moving average price is $102.22. Boise Cascade has a 52-week low of $83.60 and a 52-week high of $155.42. The company has a current ratio of 2.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 4.27 and a beta of 1.34.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). Boise Cascade had a net margin of 4.72% and a return on equity of 14.36%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $2.61 earnings per share. The company's revenue was down 6.6% compared to the same quarter last year. Equities analysts expect that Boise Cascade will post 10.15 earnings per share for the current year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $0.21 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.90%. Boise Cascade's dividend payout ratio is currently 10.49%.

Insider Activity at Boise Cascade

In other news, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total transaction of $87,680.00. Following the completion of the transaction, the executive vice president directly owned 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jill Twedt sold 1,200 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $88.01, for a total transaction of $105,612.00. Following the transaction, the senior vice president owned 34,649 shares of the company's stock, valued at $3,049,458.49. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Institutional Investors Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after buying an additional 211 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Boise Cascade by 120.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after acquiring an additional 222 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after acquiring an additional 369 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Boise Cascade by 93.7% during the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock worth $90,000 after purchasing an additional 444 shares during the period. Finally, Curat Global LLC purchased a new stake in Boise Cascade in the 1st quarter worth about $122,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

About Boise Cascade

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.