Loop Capital Cuts Boise Cascade (NYSE:BCC) Price Target to $140.00

Boise Cascade (NYSE:BCC) had its target price cut by Loop Capital from $145.00 to $140.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the company. Truist Financial dropped their price objective on Boise Cascade from $161.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $128.50.

Boise Cascade Price Performance

BCC stock opened at $104.03 on Monday. The company has a quick ratio of 1.92, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. Boise Cascade has a 52-week low of $102.27 and a 52-week high of $155.42. The stock’s 50 day moving average is $121.52 and its two-hundred day moving average is $131.84. The company has a market capitalization of $3.95 billion, a PE ratio of 10.88 and a beta of 1.57.

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

Boise Cascade Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, February 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.81%. Boise Cascade’s dividend payout ratio (DPR) is presently 8.79%.

Insiders Place Their Bets

In other news, Director Kristopher J. Matula sold 553 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total value of $57,047.48. Following the completion of the sale, the director now owns 13,099 shares in the company, valued at $1,351,292.84. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is currently owned by insiders.

Institutional Trading of Boise Cascade

Several institutional investors have recently modified their holdings of BCC. Norges Bank acquired a new stake in shares of Boise Cascade in the fourth quarter valued at $55,680,000. First Trust Advisors LP lifted its holdings in shares of Boise Cascade by 37.9% during the fourth quarter. First Trust Advisors LP now owns 712,527 shares of the construction company’s stock valued at $84,691,000 after purchasing an additional 195,773 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Boise Cascade by 12.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company’s stock valued at $134,831,000 after purchasing an additional 121,790 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Boise Cascade by 1,597.4% during the third quarter. Bank of Montreal Can now owns 126,559 shares of the construction company’s stock valued at $17,907,000 after purchasing an additional 119,103 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Boise Cascade by 534.5% during the fourth quarter. Tidal Investments LLC now owns 100,295 shares of the construction company’s stock valued at $11,921,000 after purchasing an additional 84,487 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

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.