Boise Cascade (NYSE:BCC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Boise Cascade (NYSE:BCC) from a strong sell rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Several other research analysts have also weighed in on BCC. Wall Street Zen upgraded shares of Boise Cascade from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. DA Davidson cut their price target on shares of Boise Cascade from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial set a $97.00 price target on shares of Boise Cascade in a report on Wednesday. BMO Capital Markets restated an “outperform” rating on shares of Boise Cascade in a report on Thursday, January 8th. Finally, Weiss Ratings lowered shares of Boise Cascade from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boise Cascade currently has a consensus rating of “Hold” and an average price target of $98.00.

Boise Cascade Trading Down 1.9%

Shares of BCC stock opened at $72.83 on Wednesday. The firm has a market cap of $2.56 billion, a P/E ratio of 24.60, a PEG ratio of 1.10 and a beta of 1.15. Boise Cascade has a 1-year low of $65.14 and a 1-year high of $95.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.77 and a quick ratio of 1.74. The firm’s 50-day simple moving average is $76.95 and its 200-day simple moving average is $77.18.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. As a group, equities analysts forecast that Boise Cascade will post 3.71 EPS for the current year.

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be issued a $0.22 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.88 annualized dividend and a yield of 1.2%. Boise Cascade’s dividend payout ratio (DPR) is presently 29.73%.

Institutional Trading of Boise Cascade

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position 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 valued at $29,000 after acquiring an additional 259 shares in the last quarter. Fifth Third Bancorp grew its position in Boise Cascade by 77.5% in the fourth quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. Hantz Financial Services Inc. grew its position in Boise Cascade by 1,071.4% in the third quarter. Hantz Financial Services Inc. now owns 492 shares of the construction company’s stock valued at $38,000 after acquiring an additional 450 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Boise Cascade in the third quarter valued at approximately $38,000. Finally, UMB Bank n.a. grew its position in Boise Cascade by 98.5% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the construction company’s stock valued at $39,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds 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.