Boise Cascade, L.L.C. (NYSE:BCC) Stock Rated “Hold” by Wall Street Brokerages

Shares of Boise Cascade, L.L.C. (NYSE:BCC) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $93.60.

Several research analysts have recently commented on the company. DA Davidson boosted their price objective on Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Zacks Research lowered shares of Boise Cascade from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Bank of America boosted their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th.

Insider Transactions at Boise Cascade

In other Boise Cascade news, SVP Jill Twedt sold 1,250 shares of Boise Cascade stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.40, for a total transaction of $99,250.00. Following the completion of the sale, the senior vice president owned 25,295 shares of the company’s stock, valued at $2,008,423. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kristopher Matula sold 1,930 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were 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 in the company, valued at approximately $1,182,597.56. This represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Boise Cascade

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Boise Cascade in the second quarter valued at $463,729,000. Norges Bank purchased a new stake in shares of Boise Cascade in the 4th quarter worth about $42,146,000. Atlas FRM LLC bought a new stake in shares of Boise Cascade during the 2nd quarter valued at about $34,545,350. Bank of America Corp DE bought a new stake in shares of Boise Cascade during the 2nd quarter valued at about $30,351,000. Finally, Concentric Capital Strategies LP increased its position in shares of Boise Cascade by 202.0% during the fourth quarter. Concentric Capital Strategies LP now owns 425,179 shares of the construction company’s stock valued at $31,293,000 after buying an additional 284,406 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Boise Cascade Trading Up 1.0%

Shares of Boise Cascade stock opened at $75.56 on Friday. Boise Cascade has a 12-month low of $65.00 and a 12-month high of $91.97. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.01 and a beta of 1.08. The company has a current ratio of 2.71, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $78.92 and its 200-day moving average price is $75.93.

Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.40. Boise Cascade had a net margin of 1.64% and a return on equity of 5.41%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Boise Cascade will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

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

About Boise Cascade

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.