DA Davidson analysts raise earnings estimates for Boise Cascade (NYSE:BCC)

Boise Cascade (NYSE:BCC) – Equity researchers at DA Davidson raised their fourth-quarter 2021 earnings estimates for Boise Cascade in a research note released Wednesday, January 19. DA Davidson analyst K. Yinger now expects the construction company to post earnings per share of $2.70 for the quarter, up from its previous forecast of $2.11. . DA Davidson currently has a “Neutral” rating and a price target of $72.00 on the stock. DA Davidson also released Boise Cascade earnings estimates for fiscal year 2022 at $10.50 EPS.

A number of other brokerages have also weighed in on BCC recently. Zacks Investment Research moved shares of Boise Cascade from a “hold” rating to a “buy” rating and set a price target of $78.00 for the company in a Tuesday, January 11 report. Bank of America raised shares of Boise Cascade from an “underperforming” rating to a “buy” rating and raised its price target for the stock from $68.00 to $82.00 in a report of search Wednesday. Finally, the Goldman Sachs Group raised shares of Boise Cascade from a “sell” rating to a “neutral” rating in a research report on Friday. Three research analysts gave the stock a hold rating and two gave the company’s stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.40.

BCC shares opened at $67.70 on Friday. The company has a debt ratio of 0.36, a quick ratio of 1.85 and a current ratio of 2.77. The company has a market capitalization of $2.66 billion, a price/earnings ratio of 4.72, a PEG ratio of 3.51 and a beta of 1.82. Boise Cascade has a 52-week low of $45.83 and a 52-week high of $78.35. The company has a 50-day simple moving average of $69.04 and a 200-day simple moving average of $60.66. Boise Cascade Inc (NYSE:BCC) last released quarterly earnings data on Monday, November 1. The construction company reported earnings per share of $2.31 for the quarter, beating the consensus estimate of $2.12 by $0.19. The company posted revenue of $1.88 billion for the quarter, compared to analysts’ estimates of $1.65 billion. Boise Cascade had a net margin of 7.48% and a return on equity of 56.14%. Boise Cascade’s revenue for the quarter increased 18.3% over the same quarter last year. During the same period of the previous year, the company achieved EPS of $2.88.

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Institutional investors and hedge funds have recently been buying and selling shares of the company. FMR LLC increased its position in Boise Cascade by 436.4% during the first quarter. FMR LLC now owns 3,331 shares of the construction company valued at $89,000 after purchasing an additional 2,710 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Boise Cascade in Q3 for a value of approximately $101,000. Maverick Capital Ltd. increased its stake in Boise Cascade shares by 34.6% in the second quarter. Maverick Capital Ltd. now owns 3,285 shares of the construction company worth $192,000 after purchasing an additional 844 shares during the period. FORA Capital LLC increased its stake in shares of Boise Cascade by 763.0% in the second quarter. FORA Capital LLC now owns 3,331 shares of the construction company worth $194,000 after purchasing an additional 2,945 shares during the period. Finally, 6 Meridian increased its stake in Boise Cascade shares by 7.5% in the third quarter. 6 Meridian now owns 3,801 shares of the construction company worth $205,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s shares.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15. Investors of record on Wednesday, December 1 received a dividend of $0.12 per share. This represents a dividend of $0.48 on an annualized basis and a yield of 0.71%. The ex-dividend date was Tuesday, November 30. This is an increase from Boise Cascade’s previous quarterly dividend of $0.10. Boise Cascade’s dividend payout ratio (DPR) is 3.34%.

About Boise Cascade

Boise Cascade Co is engaged in the manufacturing and distribution of engineered wood products (EWP) and plywood. It operates through Wood Products and Building Materials Distribution (BMD) segments. The Wood Products segment manufactures and sells engineered wood products, plywood, particle board, studs and ponderosa pine lumber.

Read more: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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