Boise Cascade (NYSE:BCC) Price Target Increased to $124.00 by Analysts at Bank of America

Boise Cascade (NYSE:BCC) had its price objective raised by Bank of America from $120.00 to $124.00 in a research note released on Thursday, Benzinga reports. They currently have an underperform rating on the construction company’s stock.

BCC has been the subject of a number of other research reports. StockNews.com lowered shares of Boise Cascade from a buy rating to a hold rating in a research note on Tuesday, August 6th. Truist Financial reiterated a buy rating and set a $154.00 price objective (down from $159.00) on shares of Boise Cascade in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their target price on Boise Cascade from $140.00 to $122.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $128.00.

Boise Cascade Stock Up 4.5 %

Shares of Boise Cascade stock opened at $127.57 on Thursday. Boise Cascade has a 1 year low of $87.32 and a 1 year high of $154.67. The company has a market cap of $5.04 billion, a P/E ratio of 10.37 and a beta of 1.52. The company has a current ratio of 3.28, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $128.96 and a 200 day moving average price of $133.32.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.16. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a net margin of 6.60% and a return on equity of 20.17%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.67 earnings per share. As a group, analysts expect that Boise Cascade will post 9.76 EPS for the current fiscal year.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from Boise Cascade’s previous quarterly dividend of $0.20. Boise Cascade’s dividend payout ratio (DPR) is currently 6.83%.

Institutional Investors Weigh In On Boise Cascade

A number of large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Boise Cascade in the second quarter worth about $745,000. Ariadne Wealth Management LP bought a new position in shares of Boise Cascade in the 2nd quarter valued at approximately $814,000. Creative Planning lifted its holdings in Boise Cascade by 27.6% in the 2nd quarter. Creative Planning now owns 7,294 shares of the construction company’s stock worth $870,000 after purchasing an additional 1,576 shares during the last quarter. Algert Global LLC boosted its position in Boise Cascade by 8.3% during the second quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 6,059 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Boise Cascade by 6.2% during the second quarter. Mackenzie Financial Corp now owns 5,728 shares of the construction company’s stock valued at $683,000 after purchasing an additional 333 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors.

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.