Boise Cascade (NYSE:BCC) Price Target Lowered to $118.00 at Truist Financial

Boise Cascade (NYSE:BCC - Free Report) had its target price trimmed by Truist Financial from $134.00 to $118.00 in a research note released on Tuesday morning, Marketbeat reports. The firm currently has a buy rating on the construction company's stock.

A number of other analysts have also recently commented on the company. The Goldman Sachs Group cut their target price on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets lowered their price objective on shares of Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 25th. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Loop Capital dropped their price target on Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Benchmark reaffirmed a "hold" rating on shares of Boise Cascade in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $125.00.

Boise Cascade Price Performance

BCC stock traded down $0.72 during mid-day trading on Tuesday, reaching $95.37. The company's stock had a trading volume of 243,643 shares, compared to its average volume of 328,434. Boise Cascade has a fifty-two week low of $87.84 and a fifty-two week high of $155.42. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.63 billion, a PE ratio of 9.98 and a beta of 1.52. The company's 50 day moving average is $98.92 and its two-hundred day moving average is $120.79.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.57 billion. Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. Equities research analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.88%. Boise Cascade's payout ratio is 8.79%.

Insider Buying and Selling

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the transaction, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at $3,810,585.46. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Institutional Trading of Boise Cascade

A number of hedge funds have recently added to or reduced their stakes in BCC. Norges Bank purchased a new position in shares of Boise Cascade in the 4th quarter worth $55,680,000. First Trust Advisors LP increased its stake in Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock worth $84,691,000 after acquiring an additional 195,773 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Boise Cascade by 15,650.6% in the 1st quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock worth $14,028,000 after purchasing an additional 142,107 shares during the period. American Century Companies Inc. lifted its stake in shares of Boise Cascade by 12.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock valued at $134,831,000 after purchasing an additional 121,790 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Boise Cascade by 534.5% during the 4th quarter. Tidal Investments LLC now owns 100,295 shares of the construction company's stock worth $11,921,000 after purchasing an additional 84,487 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

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.