Bank of America Issues Pessimistic Forecast for Boise Cascade (NYSE:BCC) Stock Price

Boise Cascade (NYSE:BCC - Free Report) had its price target cut by Bank of America from $111.00 to $107.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the construction company's stock.

Other equities research analysts also recently issued research reports about the stock. Truist Financial decreased their price target on shares of Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research note on Tuesday. Loop Capital reduced their target price on shares of Boise Cascade from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.17.

Boise Cascade Price Performance

Shares of BCC traded down $2.10 during mid-day trading on Wednesday, reaching $91.16. The stock had a trading volume of 413,069 shares, compared to its average volume of 326,287. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 4.27 and a beta of 1.34. Boise Cascade has a 12 month low of $83.60 and a 12 month high of $155.42. The business has a fifty day moving average of $88.96 and a 200 day moving average of $102.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.30). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.61 earnings per share. Equities analysts predict 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, June 18th. Investors of record on Monday, June 2nd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, June 2nd. Boise Cascade's dividend payout ratio is presently 10.49%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in 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 acquiring an additional 444 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Boise Cascade by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 1,458 shares of the construction company's stock valued at $143,000 after buying an additional 550 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Boise Cascade by 50.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 23,699 shares of the construction company's stock valued at $2,325,000 after buying an additional 7,983 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Boise Cascade by 139.1% in the 4th quarter. HighTower Advisors LLC now owns 4,507 shares of the construction company's stock valued at $536,000 after buying an additional 2,622 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Boise Cascade in the 4th quarter valued at about $728,000. 96.18% of the stock is currently owned by institutional investors.

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.