Boise Cascade, L.L.C. (NYSE:BCC) Receives $101.83 Consensus PT from Brokerages

Boise Cascade, L.L.C. (NYSE:BCC) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $101.8333.

Several research firms have issued reports on BCC. Wall Street Zen cut shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings raised shares of Boise Cascade from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Truist Financial increased their price objective on shares of Boise Cascade from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. DA Davidson restated a “buy” rating and issued a $95.00 target price on shares of Boise Cascade in a report on Thursday, November 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Boise Cascade in a research report on Thursday, January 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in Boise Cascade by 3.8% during the second quarter. Cerity Partners LLC now owns 3,274 shares of the construction company’s stock worth $284,000 after buying an additional 121 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Boise Cascade by 1.0% in the second quarter. Raymond James Financial Inc. now owns 13,219 shares of the construction company’s stock valued at $1,148,000 after buying an additional 126 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Boise Cascade by 6.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,726 shares of the construction company’s stock worth $211,000 after acquiring an additional 158 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Boise Cascade by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,013 shares of the construction company’s stock worth $663,000 after acquiring an additional 163 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Boise Cascade by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 21,171 shares of the construction company’s stock worth $1,558,000 after acquiring an additional 164 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Boise Cascade Stock Down 2.8%

BCC stock opened at $81.99 on Thursday. The stock has a market capitalization of $3.04 billion, a P/E ratio of 16.20 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 1.69. Boise Cascade has a 1-year low of $65.14 and a 1-year high of $121.00. The business has a fifty day moving average price of $81.34 and a 200-day moving average price of $78.89.

Boise Cascade Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, February 23rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. Boise Cascade’s payout ratio is presently 17.39%.

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.