Boise Cascade (NYSE:BCC) Hits New 12-Month High – Time to Buy?

Boise Cascade (NYSE:BCC)’s share price reached a new 52-week high on Monday . The company traded as high as $154.72 and last traded at $153.15, with a volume of 70490 shares traded. The stock had previously closed at $143.78.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial raised their price objective on Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Loop Capital started coverage on Boise Cascade in a research report on Friday, November 1st. They set a “buy” rating and a $155.00 price target for the company. Bank of America lifted their price target on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets lifted their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.60.

Boise Cascade Trading Down 1.4 %

The company has a 50 day moving average of $140.03 and a two-hundred day moving average of $133.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. The stock has a market cap of $5.62 billion, a PE ratio of 14.52 and a beta of 1.53.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm posted $3.58 earnings per share. Boise Cascade’s quarterly revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Boise Cascade will post 9.57 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BCC. Harbor Capital Advisors Inc. acquired a new position in shares of Boise Cascade during the 3rd quarter worth approximately $28,000. Larson Financial Group LLC acquired a new position in shares of Boise Cascade during the 2nd quarter worth approximately $36,000. iA Global Asset Management Inc. acquired a new position in shares of Boise Cascade during the 1st quarter worth approximately $82,000. GAMMA Investing LLC boosted its holdings in shares of Boise Cascade by 33.4% during the 2nd quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock worth $94,000 after purchasing an additional 197 shares during the last quarter. Finally, CWM LLC lifted its holdings in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after acquiring an additional 141 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

Boise Cascade Company Profile

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.