Boise Cascade (NYSE:BCC) Sets New 52-Week Low on Analyst Downgrade

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday after DA Davidson lowered their price target on the stock from $115.00 to $100.00. DA Davidson currently has a buy rating on the stock. Boise Cascade traded as low as $83.50 and last traded at $83.59, with a volume of 230595 shares traded. The stock had previously closed at $86.72.

Other equities analysts have also recently issued research reports about the stock. Loop Capital dropped their price target 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. Bank of America dropped their target price on Boise Cascade from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Finally, Truist Financial decreased their price target on Boise Cascade from $114.00 to $106.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.00.

Insider Buying and Selling at Boise Cascade

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the company's 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jill Twedt sold 1,200 shares of Boise Cascade stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $88.01, for a total value of $105,612.00. Following the completion of the transaction, the senior vice president owned 34,649 shares in the company, valued at approximately $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP lifted its holdings in shares of Boise Cascade by 502.4% during the fourth quarter. Quarry LP now owns 253 shares of the construction company's stock valued at $30,000 after purchasing an additional 211 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Boise Cascade by 120.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 406 shares of the construction company's stock valued at $40,000 after purchasing an additional 222 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Boise Cascade by 338.5% in the first quarter. Farther Finance Advisors LLC now owns 478 shares of the construction company's stock worth $47,000 after buying an additional 369 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Boise Cascade by 93.7% during the first quarter. Blue Trust Inc. now owns 918 shares of the construction company's stock valued at $90,000 after buying an additional 444 shares during the last quarter. Finally, Curat Global LLC purchased a new stake in Boise Cascade during the 1st quarter valued at $122,000. Hedge funds and other institutional investors own 96.18% of the company's stock.

Boise Cascade Stock Down 3.5%

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.82 and a quick ratio of 1.51. The stock has a market cap of $3.15 billion, a PE ratio of 10.45, a PEG ratio of 3.98 and a beta of 1.34. The company has a 50 day moving average price of $88.70 and a two-hundred day moving average price of $101.05.

Boise Cascade (NYSE:BCC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.30). Boise Cascade had a return on equity of 14.36% and a net margin of 4.72%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $2.61 EPS. Boise Cascade's revenue for the quarter was down 6.6% on a year-over-year basis. Analysts expect that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 1.00%. Boise Cascade's dividend payout ratio is presently 10.49%.

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.

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