Boise Cascade (NYSE:BCC) Hits New 1-Year Low on Analyst Downgrade

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) reached 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 trading hands. The stock had previously closed at $86.72.

A number of other brokerages have also recently commented on BCC. Bank of America lowered their price target on Boise Cascade from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Truist Financial cut their price target on Boise Cascade from $114.00 to $106.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Finally, Loop Capital cut their price objective on 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.00.

Insider Buying and Selling

In other Boise Cascade news, EVP Joanna L. Barney sold 1,000 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $87.68, for a total value of $87,680.00. Following the sale, the executive vice president directly owned 12,372 shares of the company's stock, valued at approximately $1,084,776.96. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jill Twedt sold 1,200 shares of the business's stock in a transaction on 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 of the company's stock, valued at $3,049,458.49. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vise Technologies Inc. raised its position in Boise Cascade by 3.4% during the fourth quarter. Vise Technologies Inc. now owns 3,021 shares of the construction company's stock valued at $359,000 after purchasing an additional 100 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Boise Cascade by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 6,708 shares of the construction company's stock worth $658,000 after buying an additional 114 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Boise Cascade by 5.7% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,800 shares of the construction company's stock worth $243,000 after buying an additional 152 shares during the period. Peak Financial Advisors LLC raised its holdings in shares of Boise Cascade by 4.8% in the first quarter. Peak Financial Advisors LLC now owns 3,624 shares of the construction company's stock worth $355,000 after buying an additional 166 shares during the period. Finally, Quarry LP increased its holdings in Boise Cascade by 502.4% during the 4th quarter. Quarry LP now owns 253 shares of the construction company's stock worth $30,000 after purchasing an additional 211 shares during the period. 96.18% of the stock is owned by institutional investors.

Boise Cascade Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.82. The company has a market capitalization of $3.28 billion, a PE ratio of 10.88, a P/E/G ratio of 3.88 and a beta of 1.34. The firm has a fifty day simple moving average of $88.61 and a 200 day simple moving average of $100.57.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.06 earnings per share (EPS) 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 firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm posted $2.61 earnings per share. The company's quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that Boise Cascade, L.L.C. will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a $0.21 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. Boise Cascade's dividend payout ratio (DPR) is presently 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.