Zacks Investment Research cut shares of Boise Cascade (NYSE:BCC) from a buy rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Boise Cascade Company operates as a wood products manufacturer and building materials distributor. The Company manufactures engineered wood products, plywood, lumber and particleboard and distributes wood products, such as decking, EWP, lumber, panel, particleboard, and MDF products. It has operations primarily in the United States and Canada. Boise Cascade Company is headquartered in Boise, Idaho. “
Other equities analysts also recently issued research reports about the company. Vertical Research downgraded Boise Cascade from a buy rating to a hold rating and set a $36.00 target price on the stock. in a research note on Wednesday, October 4th. Sidoti assumed coverage on Boise Cascade in a research note on Friday, September 15th. They issued a buy rating on the stock. ValuEngine upgraded Boise Cascade from a hold rating to a buy rating in a research note on Sunday, December 31st. DA Davidson downgraded Boise Cascade from a buy rating to a neutral rating and set a $36.00 target price on the stock. in a research note on Tuesday, October 3rd. Finally, Bank of America downgraded Boise Cascade from a buy rating to a neutral rating and boosted their target price for the stock from $35.00 to $36.00 in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Boise Cascade currently has a consensus rating of Hold and a consensus target price of $36.40.
Boise Cascade (NYSE:BCC) last released its quarterly earnings results on Tuesday, October 31st. The construction company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. Boise Cascade had a return on equity of 10.66% and a net margin of 1.59%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. equities research analysts expect that Boise Cascade will post 1.92 earnings per share for the current year.
The firm also recently announced a Not Available dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, November 27th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 24th. Boise Cascade’s payout ratio is presently 4.02%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC bought a new stake in shares of Boise Cascade in the 2nd quarter worth approximately $19,863,000. Dimensional Fund Advisors LP raised its holdings in shares of Boise Cascade by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,833,301 shares of the construction company’s stock worth $86,132,000 after purchasing an additional 405,572 shares during the period. BlackRock Inc. raised its holdings in shares of Boise Cascade by 8.2% in the 2nd quarter. BlackRock Inc. now owns 5,291,341 shares of the construction company’s stock worth $160,857,000 after purchasing an additional 401,463 shares during the period. AJO LP bought a new stake in shares of Boise Cascade in the 2nd quarter worth approximately $8,580,000. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Boise Cascade by 174.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 382,193 shares of the construction company’s stock worth $11,619,000 after purchasing an additional 242,963 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.
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About Boise Cascade
Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other.
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