Boise Cascade (NYSE:BCC) Given New $122.00 Price Target at BMO Capital Markets

Boise Cascade (NYSE:BCC) had its price target trimmed by BMO Capital Markets from $136.00 to $122.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the construction company’s stock.

BCC has been the topic of several other research reports. Benchmark reiterated a “hold” rating on shares of Boise Cascade in a research note on Tuesday. DA Davidson decreased their target price on shares of Boise Cascade from $155.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com cut shares of Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital decreased their target price on shares of Boise Cascade from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial decreased their target price on shares of Boise Cascade from $157.00 to $134.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $128.50.

Boise Cascade Trading Up 2.7 %

Shares of Boise Cascade stock opened at $106.52 on Tuesday. The company has a market capitalization of $4.04 billion, a P/E ratio of 11.14 and a beta of 1.57. Boise Cascade has a fifty-two week low of $102.27 and a fifty-two week high of $155.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34. The company has a fifty day moving average of $121.97 and a 200 day moving average of $132.03.

Boise Cascade (NYSE:BCC) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Boise Cascade had a return on equity of 17.04% and a net margin of 5.60%. On average, sell-side analysts anticipate that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, February 24th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Monday, February 24th. Boise Cascade’s dividend payout ratio (DPR) is currently 8.79%.

Institutional Trading of Boise Cascade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Boise Cascade in the 3rd quarter worth about $28,000. R Squared Ltd bought a new position in Boise Cascade in the 4th quarter worth about $29,000. Quarry LP grew its stake in Boise Cascade by 502.4% in the 4th quarter. Quarry LP now owns 253 shares of the construction company’s stock worth $30,000 after acquiring an additional 211 shares in the last quarter. Larson Financial Group LLC grew its stake in Boise Cascade by 23.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Boise Cascade by 44.2% in the 4th quarter. Principal Securities Inc. now owns 473 shares of the construction company’s stock worth $56,000 after acquiring an additional 145 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.