Boise Cascade, L.L.C. (NYSE:BCC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $105.6667.

Several brokerages have commented on BCC. BMO Capital Markets reissued an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th. DA Davidson reaffirmed a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a research report on Tuesday, February 24th. Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Truist Financial lifted their price target on shares of Boise Cascade from $92.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Boise Cascade from $85.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th.

Boise Cascade Trading Up 0.4%

NYSE BCC opened at $69.92 on Monday. The firm has a market capitalization of $2.50 billion, a PE ratio of 19.86, a P/E/G ratio of 0.96 and a beta of 1.26. The stock’s 50 day moving average is $82.23 and its 200 day moving average is $77.98. Boise Cascade has a twelve month low of $65.14 and a twelve month high of $103.44. The company has a quick ratio of 1.74, a current ratio of 3.36 and a debt-to-equity ratio of 0.22.

Boise Cascade Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, February 23rd. Boise Cascade’s dividend payout ratio (DPR) is presently 25.00%.

Institutional Trading of Boise Cascade

Several hedge funds and other institutional investors have recently made changes to their positions in BCC. Salomon & Ludwin LLC bought a new position in Boise Cascade during the 3rd quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in Boise Cascade by 231.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock worth $29,000 after acquiring an additional 259 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after acquiring an additional 179 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Boise Cascade by 1,071.4% in the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock worth $38,000 after acquiring an additional 450 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Boise Cascade in the third quarter worth $38,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.