Boise Cascade (BCC) Trading Down 1.1% After Analyst Downgrade

Boise Cascade Co (NYSE:BCC) fell 1.1% during mid-day trading on Wednesday after DA Davidson lowered their price target on the stock to $35.00. DA Davidson currently has a neutral rating on the stock. Boise Cascade traded as low as $29.46 and last traded at $29.52. 22,496 shares were traded during mid-day trading, a decline of 95% from the average session volume of 491,908 shares. The stock had previously closed at $29.84.

BCC has been the topic of several other research reports. Zacks Investment Research raised shares of Boise Cascade from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, August 29th. Bank of America reduced their target price on shares of Boise Cascade from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. BMO Capital Markets restated a “hold” rating and issued a $41.00 target price on shares of Boise Cascade in a research note on Tuesday, July 17th. ValuEngine downgraded shares of Boise Cascade from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Vertical Research upgraded shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Boise Cascade has an average rating of “Hold” and an average target price of $43.50.

In other news, VP Kelly E. Hibbs sold 4,114 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $44.30, for a total value of $182,250.20. Following the sale, the vice president now owns 34,101 shares in the company, valued at approximately $1,510,674.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Wayne M. Rancourt sold 9,872 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $44.85, for a total transaction of $442,759.20. Following the completion of the sale, the chief financial officer now owns 86,421 shares in the company, valued at approximately $3,875,981.85. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its position in Boise Cascade by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 93,484 shares of the construction company’s stock worth $4,179,000 after buying an additional 1,265 shares in the last quarter. Victory Capital Management Inc. lifted its position in Boise Cascade by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 9,472 shares of the construction company’s stock worth $423,000 after buying an additional 1,301 shares in the last quarter. United Services Automobile Association lifted its position in Boise Cascade by 18.7% during the 2nd quarter. United Services Automobile Association now owns 8,557 shares of the construction company’s stock worth $383,000 after buying an additional 1,346 shares in the last quarter. LSV Asset Management lifted its position in Boise Cascade by 1.2% during the 2nd quarter. LSV Asset Management now owns 198,200 shares of the construction company’s stock worth $8,859,000 after buying an additional 2,400 shares in the last quarter. Finally, Cypress Capital Management LLC WY lifted its position in Boise Cascade by 7.1% during the 3rd quarter. Cypress Capital Management LLC WY now owns 36,080 shares of the construction company’s stock worth $1,328,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

The stock has a market capitalization of $1.26 billion, a PE ratio of 15.46, a PEG ratio of 1.13 and a beta of 2.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 2.25.

Boise Cascade (NYSE:BCC) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Boise Cascade had a net margin of 2.64% and a return on equity of 18.66%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts expect that Boise Cascade Co will post 3.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.09 per share. This is a boost from Boise Cascade’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, November 30th. Boise Cascade’s payout ratio is currently 14.66%.

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Boise Cascade Company Profile (NYSE:BCC)

Boise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates in 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 lumber, studs, and particleboards.

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