Boise Cascade, L.L.C. (NYSE:BCC) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Boise Cascade has a consensus “Hold” rating from seven analysts, with three buys, three holds and one sell. The average 12-month price target is $93.60, compared with a recent share price of $74.78.
• The company exceeded quarterly expectations, reporting $1.63 in EPS versus the $1.23 consensus estimate and $1.83 billion in revenue, up 5.2% year over year. Analysts expect full-year EPS of approximately $3.86.
• Boise Cascade increased its quarterly dividend to $0.23 per share, or $0.92 annualized, representing a 1.2% yield. Institutional investors own 96.18% of the stock, while company insiders own 1.42%.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) has been given a consensus rating of "Hold" by the seven analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $93.60.

Several equities research analysts have recently commented on the stock. DA Davidson upped their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Boise Cascade from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Zacks Research cut shares of Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group increased their price target on shares of Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th.

Boise Cascade Stock Performance

Shares of BCC opened at $74.78 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 25.35, a PEG ratio of 1.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. Boise Cascade has a one year low of $65.00 and a one year high of $91.97. The business has a fifty day moving average of $79.13 and a 200 day moving average of $75.86.

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 for the quarter, beating analysts' consensus estimates of $1.23 by $0.40. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.Boise Cascade's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. As a group, sell-side analysts anticipate that Boise Cascade will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Tuesday, September 1st were paid a $0.23 dividend. This is a positive change from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, September 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. Boise Cascade's dividend payout ratio (DPR) is currently 31.19%.

Insiders Place Their Bets

In related news, Director Kristopher Matula sold 1,930 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $163,239.40. Following the transaction, the director directly owned 13,982 shares of the company's stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill Twedt sold 1,250 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total value of $99,250.00. Following the sale, the senior vice president directly owned 25,295 shares of the company's stock, valued at $2,008,423. This represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its stake in Boise Cascade by 4.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,693 shares of the construction company's stock worth $287,000 after buying an additional 157 shares during the last quarter. Baker Ellis Asset Management LLC raised its stake in Boise Cascade by 1.8% in the first quarter. Baker Ellis Asset Management LLC now owns 21,570 shares of the construction company's stock valued at $1,636,000 after buying an additional 390 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Boise Cascade by 79.5% in the fourth quarter. Hantz Financial Services Inc. now owns 883 shares of the construction company's stock worth $65,000 after acquiring an additional 391 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Boise Cascade by 14.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,124 shares of the construction company's stock worth $230,000 after acquiring an additional 398 shares during the last quarter. Finally, Ethic Inc. grew its stake in shares of Boise Cascade by 17.0% during the second quarter. Ethic Inc. now owns 3,599 shares of the construction company's stock worth $279,000 after acquiring an additional 522 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Company Profile

Boise Cascade Company is a manufacturer of wood products and a wholesale distributor of building materials. The company serves residential and commercial construction markets, as well as industrial and remodeling customers, primarily in the United States.

Through its Wood Products segment, Boise Cascade manufactures engineered wood products such as laminated veneer lumber, I-joists, laminated beams, plywood and related structural panels. These products are used in floors, roofs, walls and other structural applications.

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