Brokerages Set Boise Cascade (NYSE:BCC) Target Price at $125.00

Shares of Boise Cascade (NYSE:BCC - Get Free Report) have earned an average rating of "Hold" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $125.00.

BCC has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating for the company in a research report on Tuesday, February 25th. Benchmark restated a "hold" rating on shares of Boise Cascade in a report on Tuesday, February 25th. DA Davidson dropped their price objective 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 decreased 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 report on Monday, April 14th. Finally, Truist Financial lowered their target price on shares of Boise Cascade from $134.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd.

Insider Transactions at Boise Cascade

In related news, COO Jeffrey Robert Strom sold 4,500 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total transaction of $450,945.00. Following the completion of the sale, the chief operating officer now directly owns 38,026 shares of the company's stock, valued at approximately $3,810,585.46. This represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the transaction, the director now owns 13,099 shares in the company, valued at approximately $1,351,292.84. This represents a 4.05% 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

Several hedge funds have recently modified their holdings of BCC. Norges Bank acquired a new stake in Boise Cascade in the fourth quarter valued at approximately $55,680,000. Westwood Holdings Group Inc. boosted its stake in shares of Boise Cascade by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,499,305 shares of the construction company's stock valued at $147,067,000 after purchasing an additional 306,684 shares during the period. First Trust Advisors LP grew its holdings in Boise Cascade by 37.9% during the 4th quarter. First Trust Advisors LP now owns 712,527 shares of the construction company's stock valued at $84,691,000 after purchasing an additional 195,773 shares in the last quarter. GAMMA Investing LLC increased its stake in Boise Cascade by 15,650.6% during the 1st quarter. GAMMA Investing LLC now owns 143,015 shares of the construction company's stock worth $14,028,000 after buying an additional 142,107 shares during the period. Finally, American Century Companies Inc. lifted its holdings in 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 worth $134,831,000 after buying an additional 121,790 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Trading Down 0.9%

Shares of Boise Cascade stock traded down $0.81 during mid-day trading on Tuesday, hitting $86.52. 251,285 shares of the stock were exchanged, compared to its average volume of 327,741. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 9.05 and a beta of 1.43. Boise Cascade has a twelve month low of $84.53 and a twelve month 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 company has a 50-day simple moving average of $94.19 and a 200 day simple moving average of $114.07.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its earnings results 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). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. The firm's revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.61 EPS. Research analysts forecast that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, June 2nd. Boise Cascade's dividend payout ratio is currently 10.49%.

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.