Boise Cascade (NYSE:BCC) Price Target Cut to $107.00 by Analysts at Bank of America

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

BCC has been the topic of several other reports. 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. Truist Financial dropped their price target on Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Boise Cascade has an average rating of "Moderate Buy" and a consensus target price of $120.17.

Boise Cascade Stock Down 2.3%

Shares of Boise Cascade stock traded down $2.10 during trading on Wednesday, hitting $91.16. 413,069 shares of the stock traded hands, compared to its average volume of 325,995. The stock has a market cap of $3.43 billion, a P/E ratio of 11.38, a PEG ratio of 4.22 and a beta of 1.34. 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 has a twelve month low of $83.60 and a twelve month high of $155.42. The company has a fifty day moving average price of $88.86 and a two-hundred day moving average price of $101.85.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The construction company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The business 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 quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.61 earnings per share. Equities research analysts predict that Boise Cascade will post 10.15 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, June 2nd. Boise Cascade's dividend payout ratio is presently 10.49%.

Insider Buying and Selling

In other news, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total transaction of $105,612.00. Following the sale, the senior vice president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $87.68, for a total value of $87,680.00. Following the sale, the executive vice president owned 12,372 shares in the company, valued at approximately $1,084,776.96. This represents a 7.48% 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

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP boosted its stake in Boise Cascade by 502.4% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Boise Cascade by 120.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after buying an additional 222 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Boise Cascade by 338.5% in the 1st quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock valued at $47,000 after buying an additional 369 shares in the last quarter. Blue Trust Inc. boosted its stake in Boise Cascade by 93.7% in the 1st quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares in the last quarter. Finally, Curat Global LLC acquired a new stake in Boise Cascade in the 1st quarter valued at $122,000. 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.