The Goldman Sachs Group Trims Boise Cascade (NYSE:BCC) Target Price to $122.00

Boise Cascade (NYSE:BCC) had its target price lowered by The Goldman Sachs Group from $140.00 to $122.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

A number of other brokerages have also issued reports on BCC. StockNews.com upgraded Boise Cascade from a hold rating to a buy rating in a research note on Tuesday, May 7th. Truist Financial raised their target price on Boise Cascade from $156.00 to $175.00 and gave the stock a buy rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $130.00.

Boise Cascade Stock Performance

Shares of BCC opened at $125.00 on Wednesday. Boise Cascade has a 12 month low of $87.32 and a 12 month high of $154.67. The stock has a fifty day moving average price of $128.72 and a 200-day moving average price of $134.13. The company has a current ratio of 3.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.94 billion, a PE ratio of 10.16 and a beta of 1.50.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings data on Monday, May 6th. The construction company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.30 by $0.31. Boise Cascade had a return on equity of 22.00% and a net margin of 7.08%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business posted $2.43 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts predict that Boise Cascade will post 10.84 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, June 3rd. Boise Cascade’s dividend payout ratio is currently 6.50%.

Insiders Place Their Bets

In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boise Cascade news, EVP Jeffrey Robert Strom sold 2,500 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $135.00, for a total transaction of $337,500.00. Following the sale, the executive vice president now directly owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jill Twedt sold 1,852 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the sale, the senior vice president now directly owns 37,437 shares in the company, valued at $5,053,995. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Boise Cascade

Institutional investors have recently modified their holdings of the business. Leuthold Group LLC grew its position in shares of Boise Cascade by 10.0% during the 4th quarter. Leuthold Group LLC now owns 25,252 shares of the construction company’s stock valued at $3,267,000 after acquiring an additional 2,299 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Boise Cascade by 1,809.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,659 shares of the construction company’s stock valued at $1,638,000 after acquiring an additional 11,996 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Boise Cascade during the 4th quarter valued at about $1,200,000. Vanguard Group Inc. grew its position in shares of Boise Cascade by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,709,276 shares of the construction company’s stock valued at $609,192,000 after acquiring an additional 35,963 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Boise Cascade by 54.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,919 shares of the construction company’s stock worth $7,596,000 after buying an additional 20,712 shares during the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.

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.