BMO Capital Markets Lowers Boise Cascade (NYSE:BCC) Price Target to $122.00

Boise Cascade (NYSE:BCC) had its price objective decreased by BMO Capital Markets from $136.00 to $122.00 in a research note published on Tuesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the construction company’s stock.

Several other brokerages have also recently commented on BCC. StockNews.com cut Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Benchmark reaffirmed a “hold” rating on shares of Boise Cascade in a research report on Tuesday. Truist Financial reduced their target price on Boise Cascade from $157.00 to $134.00 and set a “buy” rating for the company in a research report on Monday. DA Davidson reduced their target price on Boise Cascade from $155.00 to $125.00 and set a “buy” rating for the company in a research report on Monday. Finally, Loop Capital cut their price objective on Boise Cascade from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $128.50.

Boise Cascade Trading Down 1.3 %

Shares of Boise Cascade stock opened at $102.71 on Tuesday. The company’s fifty day simple moving average is $121.11 and its 200-day simple moving average is $131.63. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 10.74 and a beta of 1.57. The company has a current ratio of 3.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.22. Boise Cascade has a 1 year low of $102.17 and a 1 year high of $155.42.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. As a group, sell-side analysts expect that Boise Cascade will post 10.15 EPS for the current year.

Boise Cascade Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.82%. Boise Cascade’s payout ratio is currently 8.79%.

Insider Transactions at Boise Cascade

In other news, Director Kristopher J. Matula sold 553 shares of Boise Cascade stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the transaction, the director now owns 13,099 shares in the company, valued at $1,351,292.84. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Boise Cascade

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC lifted its stake in Boise Cascade by 341.9% in the 3rd quarter. Tidal Investments LLC now owns 15,808 shares of the construction company’s stock valued at $2,229,000 after acquiring an additional 12,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Boise Cascade by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,509 shares of the construction company’s stock valued at $61,680,000 after acquiring an additional 9,128 shares in the last quarter. Fulcrum Capital LLC bought a new stake in Boise Cascade in the 4th quarter valued at approximately $1,092,000. D.A. Davidson & CO. lifted its stake in Boise Cascade by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,267 shares of the construction company’s stock valued at $388,000 after acquiring an additional 133 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Boise Cascade by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock valued at $14,454,000 after acquiring an additional 5,779 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

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.