Boise Cascade (NYSE:BCC) Stock Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Boise Cascade shares fell below their 200-day moving average, trading as low as $74.95 versus the $76.03 average, signaling weaker short-term momentum.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and a $93.40 price target, with recent upgrades from DA Davidson and Goldman Sachs raising their targets.
• The company beat quarterly earnings and revenue expectations, increased its quarterly dividend to $0.23 per share, and remains heavily institutionally owned at 96.18%.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $76.03 and traded as low as $74.95. Boise Cascade shares last traded at $75.57, with a volume of 335,779 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Wall Street Zen raised Boise Cascade from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research lowered Boise Cascade from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group upped their price objective on Boise Cascade from $81.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Boise Cascade presently has an average rating of "Hold" and an average price target of $93.40.

Boise Cascade Stock Down 0.9%

The company has a market capitalization of $2.64 billion, a P/E ratio of 25.62, a PEG ratio of 0.99 and a beta of 1.08. The firm's 50 day moving average price is $77.15 and its two-hundred day moving average price is $76.03. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.64 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that Boise Cascade, L.L.C. will post 3.86 EPS for the current year.

Boise Cascade Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. This is an increase from Boise Cascade's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, September 1st. Boise Cascade's payout ratio is 31.19%.

Insider Buying and Selling at Boise Cascade

In other news, SVP Jill Twedt sold 1,250 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the transaction, the senior vice president directly owned 25,295 shares in the company, valued at $2,008,423. This represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kristopher J. Matula sold 1,930 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director owned 13,982 shares of the company's stock, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boise Cascade

Several hedge funds have recently modified their holdings of BCC. BlackRock Inc. bought a new stake in Boise Cascade during the second quarter worth about $463,729,000. Atlas FRM LLC bought a new position in Boise Cascade in the second quarter valued at approximately $34,545,350. Bank of America Corp DE bought a new position in Boise Cascade in the second quarter valued at approximately $30,351,000. Bank of New York Mellon Corp acquired a new position in shares of Boise Cascade during the 2nd quarter worth approximately $18,194,000. Finally, Medina Value Partners LLC acquired a new position in shares of Boise Cascade during the 2nd quarter worth approximately $17,858,160. Institutional investors own 96.18% of the company's stock.

Boise Cascade Company Profile

Boise Cascade Company is a U.S.-based manufacturer of engineered wood products and a wholesale distributor of building materials. Headquartered in Boise, Idaho, the company serves the residential construction, repair and remodeling, and industrial sectors primarily across the United States.

Through its Wood Products segment, Boise Cascade manufactures laminated veneer lumber, I-joists, laminated strand lumber, plywood, and other engineered wood products used in floors, roofs, walls, and structural applications.

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