TD Issues Pessimistic Forecast for Boyd Group Services (TSE:BYD) Stock Price

Boyd Group Services (TSE:BYD) had its price objective cut by equities researchers at TD from C$175.00 to C$160.00 in a research report issued on Friday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD‘s price objective would indicate a potential upside of 50.21% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada dropped their price objective on Boyd Group Services from C$224.00 to C$193.00 and set an “outperform” rating for the company in a report on Thursday. Scotiabank lowered their price target on shares of Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 13th. Mizuho set a C$120.00 price target on shares of Boyd Group Services and gave the stock an “outperform” rating in a research report on Friday, September 18th. Canadian Imperial Bank of Commerce downgraded shares of Boyd Group Services from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, National Bank Financial cut their price objective on shares of Boyd Group Services from C$270.00 to C$175.00 and set an “outperform” rating on the stock in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$196.14.

Boyd Group Services Trading Up 0.2%

Shares of BYD stock traded up C$0.26 on Friday, reaching C$106.52. 106,510 shares of the stock were exchanged, compared to its average volume of 105,499. The stock has a market cap of C$2.97 billion, a PE ratio of 236.71, a P/E/G ratio of -56.72 and a beta of 1.20. Boyd Group Services has a one year low of C$105.65 and a one year high of C$248.23. The company has a debt-to-equity ratio of 117.12, a current ratio of 0.58 and a quick ratio of 0.30. The stock has a 50 day moving average price of C$116.01 and a 200 day moving average price of C$154.63.

Boyd Group Services (TSE:BYD) last posted its quarterly earnings results on Wednesday, November 11th. The company reported C$0.97 earnings per share (EPS) for the quarter. The business had revenue of C$1.44 billion for the quarter. Boyd Group Services had a return on equity of 0.61% and a net margin of 0.26%. Equities research analysts forecast that Boyd Group Services will post 7.15 EPS for the current fiscal year.

Insider Transactions at Boyd Group Services

In related news, insider Jeff Murray bought 350 shares of Boyd Group Services stock in a transaction on Monday, September 28th. The shares were purchased at an average price of C$111.17 per share, for a total transaction of C$38,909.50. Following the completion of the acquisition, the insider owned 7,700 shares in the company, valued at approximately C$856,009. This represents a 4.76% increase in their ownership of the stock. Company insiders own 0.37% of the company’s stock.

Top Boyd Group Services Stories

Here are a few of the latest stories about BYD:

• Neutral Sentiment: National Bank Financial, RBC and ATB Cormark lowered their price targets but kept “outperform” ratings; Desjardins retained “buy” and Raymond James retained “strong-buy.” Their revised targets remain well above the cited share price, though the cuts signal reduced expectations. National Bank Financial recommendations RBC recommendations
• Neutral Sentiment: Third-quarter revenue was C$1.44 billion, and a separate report put sales growth at 28.2% to US$1.01 billion. Boyd reported C$0.97 in EPS; the results provide evidence of sales growth, but the figures alone do not establish whether results beat expectations. Boyd Group Third Quarter Sales Rise 28.2%
• Negative Sentiment: CIBC downgraded Boyd from “strong-buy” to “hold” and set a C$125 price target, adding to concerns about near-term upside. Multiple firms also cut targets, even while maintaining bullish ratings. CIBC downgrade and price target

Boyd Group Services Company Profile

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at https://www.boydgroup.com .