Boise Cascade, L.L.C. (NYSE:BCC) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Boise Cascade, with one sell, three hold, and three buy ratings; the average 12-month price target is $93.60 versus the stock’s recent price of $79.27.
• Boise Cascade exceeded quarterly expectations, reporting $1.63 in EPS and $1.83 billion in revenue, while revenue increased 5.2% year over year.
• The company raised its quarterly dividend from $0.22 to $0.23 per share, equivalent to a $0.92 annualized payout and a 1.2% yield; insiders recently sold shares, while institutional investors own 96.18% of the stock.

Shares of Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) have earned an average recommendation of "Hold" from the seven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $93.60.

Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. DA Davidson raised their target price on Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Bank of America lifted their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an "underperform" rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted their price target on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other news, Director Kristopher Matula sold 1,930 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the transaction, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jill Twedt sold 1,250 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the transaction, the senior vice president owned 25,295 shares of the company's stock, valued at approximately $2,008,423. This trade represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of Boise Cascade by 231.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company's stock worth $29,000 after purchasing an additional 259 shares during the last quarter. Fifth Third Bancorp raised its stake in Boise Cascade by 77.5% during the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company's stock valued at $30,000 after buying an additional 179 shares in the last quarter. Advisory Services Network LLC bought a new position in Boise Cascade during the 3rd quarter worth approximately $38,000. UMB Bank n.a. grew its position in shares of Boise Cascade by 98.5% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the construction company's stock worth $39,000 after acquiring an additional 260 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Boise Cascade in the 3rd quarter valued at approximately $44,000. 96.18% of the stock is owned by institutional investors and hedge funds.

Boise Cascade Price Performance

Boise Cascade stock opened at $79.27 on Monday. Boise Cascade has a 1 year low of $65.00 and a 1 year high of $91.97. The firm has a 50 day moving average price of $78.95 and a 200 day moving average price of $76.26. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 2.71.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The company's revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Boise Cascade will post 3.86 earnings per share for the current year.

Boise Cascade Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.92 annualized dividend and a yield of 1.2%. This is a boost from Boise Cascade's previous quarterly dividend of $0.22. Boise Cascade's dividend payout ratio (DPR) is presently 31.19%.

Boise Cascade Company Profile

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

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