Boise Cascade (NYSE:BCC) Price Target Cut to $126.00 by Analysts at The Goldman Sachs Group

Boise Cascade (NYSE:BCC) had its price target trimmed by The Goldman Sachs Group from $145.00 to $126.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other analysts also recently commented on the company. StockNews.com downgraded Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial reduced their target price on Boise Cascade from $161.00 to $157.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital started coverage on shares of Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Boise Cascade currently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Up 2.4 %

Shares of Boise Cascade stock opened at $123.40 on Tuesday. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 12.07 and a beta of 1.58. Boise Cascade has a 1 year low of $113.38 and a 1 year high of $155.42. The company’s fifty day simple moving average is $133.82 and its 200-day simple moving average is $133.03. The company has a current ratio of 3.13, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.04). Boise Cascade had a return on equity of 18.24% and a net margin of 5.95%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Boise Cascade will post 9.57 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, December 2nd. Boise Cascade’s dividend payout ratio (DPR) is 8.22%.

Institutional Investors Weigh In On Boise Cascade

Several institutional investors and hedge funds have recently made changes to their positions in the company. Burney Co. increased its position in shares of Boise Cascade by 14.1% during the 4th quarter. Burney Co. now owns 7,488 shares of the construction company’s stock worth $890,000 after purchasing an additional 927 shares in the last quarter. Fulcrum Capital LLC bought a new stake in Boise Cascade during the fourth quarter worth about $1,092,000. Oliver Luxxe Assets LLC grew its stake in Boise Cascade by 5.4% during the fourth quarter. Oliver Luxxe Assets LLC now owns 41,071 shares of the construction company’s stock worth $4,882,000 after buying an additional 2,097 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Boise Cascade by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 120,816 shares of the construction company’s stock worth $14,454,000 after buying an additional 5,779 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Boise Cascade by 0.8% in the third quarter. Franklin Resources Inc. now owns 43,958 shares of the construction company’s stock valued at $6,285,000 after acquiring an additional 335 shares during the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.

Boise Cascade Company Profile

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.