Boise Cascade (NYSE:BCC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Boise Cascade (NYSE:BCCFree Report) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other brokerages have also weighed in on BCC. The Goldman Sachs Group increased their price objective on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. Bank of America lifted their target price on Boise Cascade from $80.00 to $81.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Zacks Research upgraded Boise Cascade from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. DA Davidson raised their price target on shares of Boise Cascade from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Truist Financial set a $97.00 price target on shares of Boise Cascade in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Boise Cascade presently has an average rating of “Hold” and a consensus target price of $93.60.

Read Our Latest Research Report on Boise Cascade

Boise Cascade Trading Up 2.9%

NYSE:BCC opened at $86.74 on Friday. The company has a market capitalization of $3.03 billion, a P/E ratio of 29.40, a PEG ratio of 1.17 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. Boise Cascade has a 12 month low of $65.00 and a 12 month high of $91.97. The firm has a fifty day simple moving average of $75.35 and a 200-day simple moving average of $76.98.

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

Boise Cascade Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. 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 1.1%. Boise Cascade’s dividend payout ratio is presently 29.83%.

Insider Activity at Boise Cascade

In other news, SVP Jill Twedt sold 6,070 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $66.45, for a total transaction of $403,351.50. Following the sale, the senior vice president owned 26,545 shares of the company’s stock, valued at $1,763,915.25. This trade represents a 18.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristopher J. Matula sold 1,930 shares of Boise Cascade stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the transaction, the director directly owned 13,982 shares of the company’s stock, valued at approximately $1,182,597.56. This trade represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Boise Cascade by 231.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 371 shares of the construction company’s stock valued at $29,000 after purchasing an additional 259 shares in the last quarter. Fifth Third Bancorp raised its holdings in Boise Cascade by 77.5% in the 4th quarter. Fifth Third Bancorp now owns 410 shares of the construction company’s stock worth $30,000 after purchasing an additional 179 shares during the period. Advisory Services Network LLC purchased a new position in Boise Cascade during the third quarter worth approximately $38,000. UMB Bank n.a. grew its holdings 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 purchasing an additional 260 shares during the period. Finally, Signaturefd LLC increased its position in shares of Boise Cascade by 5,866.7% in the fourth quarter. Signaturefd LLC now owns 537 shares of the construction company’s stock valued at $40,000 after buying an additional 528 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

About Boise Cascade

(Get Free Report)

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.

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Analyst Recommendations for Boise Cascade (NYSE:BCC)

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