Boise Cascade (NYSE:BCC) Price Target Lowered to $108.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for Boise Cascade from $114.00 to $108.00, indicating a potential upside of 29.75% from the current stock price.
• Boise Cascade reported a quarterly earnings miss, with earnings per share of $1.64, falling short of the consensus estimate of $1.69, and revenue of $1.74 billion compared to expectations of $1.76 billion.
• Analyst ratings for Boise Cascade are mixed, with four analysts giving it a "hold" rating and four assigning a "buy" rating, resulting in an average price target of $113.67.

Boise Cascade (NYSE:BCC - Free Report) had its target price cut by BMO Capital Markets from $114.00 to $108.00 in a report released on Thursday,Benzinga reports. They currently have a market perform rating on the construction company's stock.

Other equities analysts have also issued reports about the company. Truist Financial lowered their target price on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Loop Capital lowered their target price on Boise Cascade from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, April 14th. DA Davidson lowered their target price on Boise Cascade from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Bank of America reduced their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $112.83.

Boise Cascade Stock Down 1.2%

Boise Cascade stock traded down $1.03 during midday trading on Thursday, hitting $82.16. The stock had a trading volume of 337,768 shares, compared to its average volume of 384,619. The company has a current ratio of 2.96, a quick ratio of 1.51 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.07 billion, a P/E ratio of 12.06, a P/E/G ratio of 4.53 and a beta of 1.28. Boise Cascade has a 12 month low of $80.30 and a 12 month high of $155.42. The business has a fifty day moving average price of $87.31 and a 200 day moving average price of $96.79.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.05). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.76 billion. Boise Cascade had a net margin of 4.00% and a return on equity of 12.26%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.84 earnings per share. Research analysts predict that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Boise Cascade's previous quarterly dividend of $0.21. Boise Cascade's dividend payout ratio is 12.33%.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,782 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $83.97, for a total transaction of $149,634.54. Following the completion of the sale, the senior vice president owned 32,867 shares in the company, valued at approximately $2,759,841.99. This represents a 5.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanna L. Barney sold 1,000 shares of the stock in a transaction 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 of the company's stock, valued at $1,084,776.96. This trade represents a 7.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,015 shares of company stock valued at $511,869. 0.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boise Cascade

A number of institutional investors and hedge funds have recently modified their holdings of BCC. LPL Financial LLC lifted its position in shares of Boise Cascade by 29.1% during the 4th quarter. LPL Financial LLC now owns 14,127 shares of the construction company's stock valued at $1,679,000 after acquiring an additional 3,187 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Boise Cascade by 27.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,582 shares of the construction company's stock valued at $307,000 after acquiring an additional 559 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Boise Cascade by 9.2% during the 4th quarter. Wells Fargo & Company MN now owns 90,347 shares of the construction company's stock valued at $10,739,000 after acquiring an additional 7,578 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Boise Cascade by 6.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 134,715 shares of the construction company's stock valued at $16,012,000 after acquiring an additional 8,357 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Boise Cascade by 8.7% in the fourth quarter. Invesco Ltd. now owns 358,368 shares of the construction company's stock valued at $42,596,000 after purchasing an additional 28,814 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company's stock.

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.