Bank of America downgraded shares of Boise Cascade (NYSE:BCC) from a neutral rating to an underperform rating in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. The firm currently has $22.00 target price on the construction company’s stock.

A number of other equities analysts have also recently commented on BCC. Goldman Sachs Group cut shares of Metcash from a conviction-buy rating to a neutral rating in a research note on Monday, June 24th. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Boise Cascade presently has a consensus rating of Hold and an average target price of $31.20.

Shares of NYSE:BCC opened at $26.14 on Friday. The stock’s 50 day simple moving average is $25.31. Boise Cascade has a 12-month low of $22.00 and a 12-month high of $47.15. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 2.23 and a beta of 2.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 2.54.

Boise Cascade (NYSE:BCC) last announced its earnings results on Tuesday, May 7th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Boise Cascade had a negative net margin of 0.11% and a positive return on equity of 11.49%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. Analysts forecast that Boise Cascade will post 1.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, May 31st. Boise Cascade’s dividend payout ratio is presently 15.72%.

In other Boise Cascade news, Director Kristopher J. Matula bought 3,500 shares of Boise Cascade stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $23.12 per share, with a total value of $80,920.00. Following the transaction, the director now directly owns 14,049 shares of the company’s stock, valued at $324,812.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Cable Hill Partners LLC purchased a new stake in Boise Cascade during the 1st quarter valued at about $27,000. Royce & Associates LP grew its position in Boise Cascade by 56.3% during the 4th quarter. Royce & Associates LP now owns 1,455 shares of the construction company’s stock valued at $35,000 after purchasing an additional 524 shares during the last quarter. FMR LLC grew its position in Boise Cascade by 436.4% during the 1st quarter. FMR LLC now owns 3,331 shares of the construction company’s stock valued at $89,000 after purchasing an additional 2,710 shares during the last quarter. Investors Research Corp purchased a new stake in Boise Cascade during the 1st quarter valued at about $120,000. Finally, 6 Meridian purchased a new stake in Boise Cascade during the 1st quarter valued at about $213,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Boise Cascade Company Profile

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; and structural, appearance, and industrial plywood panels.

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Analyst Recommendations for Boise Cascade (NYSE:BCC)

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