Boise Cascade (NYSE:BCC) Sets New 12-Month High – Should You Buy?

Boise Cascade (NYSE:BCC) shares reached a new 52-week high during trading on Monday . The company traded as high as $154.72 and last traded at $153.15, with a volume of 70490 shares changing hands. The stock had previously closed at $143.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Loop Capital assumed coverage on Boise Cascade in a report on Friday, November 1st. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial upped their price objective on Boise Cascade from $154.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Bank of America upped their price objective on Boise Cascade from $120.00 to $124.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. StockNews.com lowered Boise Cascade from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets boosted their target price on Boise Cascade from $130.00 to $136.00 and gave the company a “market perform” rating in a research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $139.60.

Boise Cascade Trading Down 1.4 %

The company has a market cap of $5.62 billion, a PE ratio of 14.52 and a beta of 1.53. The company has a quick ratio of 1.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $140.03 and a 200-day simple moving average of $133.21.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.72 billion. During the same period in the prior year, the company posted $3.58 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. On average, analysts predict that Boise Cascade will post 9.57 EPS for the current fiscal year.

Boise Cascade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Monday, December 2nd. Boise Cascade’s dividend payout ratio is currently 8.22%.

Institutional Trading of Boise Cascade

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new position in Boise Cascade in the third quarter valued at $28,000. Larson Financial Group LLC purchased a new position in Boise Cascade in the second quarter valued at $36,000. iA Global Asset Management Inc. purchased a new position in Boise Cascade in the first quarter valued at $82,000. GAMMA Investing LLC increased its holdings in Boise Cascade by 33.4% in the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after buying an additional 197 shares during the last quarter. Finally, CWM LLC increased its holdings in Boise Cascade by 26.5% in the third quarter. CWM LLC now owns 673 shares of the construction company’s stock valued at $95,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors 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.