Boise Cascade (NYSE:BCC) Stock Price Down 5.3% – What’s Next?

Boise Cascade (NYSE:BCC)’s share price traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $130.14 and last traded at $131.25. 69,263 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 307,803 shares. The stock had previously closed at $138.62.

Analysts Set New Price Targets

Several brokerages have recently commented on BCC. StockNews.com upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets upped their price target on Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Bank of America increased their target price on Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group lowered their target price on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Boise Cascade presently has a consensus rating of “Hold” and a consensus target price of $135.75.

Boise Cascade Trading Down 5.2 %

The company’s 50 day simple moving average is $135.99 and its 200 day simple moving average is $132.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.28 and a quick ratio of 2.08. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 10.66 and a beta of 1.52.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.16. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. Boise Cascade’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.67 EPS. As a group, research analysts expect that Boise Cascade will post 9.71 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. This is a boost from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 0.64%. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

Institutional Investors Weigh In On Boise Cascade

Large investors have recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in shares of Boise Cascade during the first quarter worth $1,055,000. Algert Global LLC lifted its holdings in Boise Cascade by 8.3% during the 2nd quarter. Algert Global LLC now owns 79,277 shares of the construction company’s stock worth $9,451,000 after buying an additional 6,059 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Boise Cascade by 80.2% during the 1st quarter. BNP Paribas Financial Markets now owns 23,522 shares of the construction company’s stock worth $3,608,000 after acquiring an additional 10,467 shares in the last quarter. Burney Co. purchased a new position in shares of Boise Cascade in the 1st quarter valued at about $673,000. Finally, Seven Eight Capital LP increased its holdings in shares of Boise Cascade by 31.6% in the 2nd quarter. Seven Eight Capital LP now owns 17,896 shares of the construction company’s stock valued at $2,134,000 after acquiring an additional 4,300 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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.