Boyd Group Services (TSE:BYD) Shares Down 13% – Here’s Why

Boyd Group Services Inc. (TSE:BYD)’s share price dropped 13% during mid-day trading on Wednesday . The company traded as low as C$129.74 and last traded at C$132.93. Approximately 118,606 shares changed hands during trading, an increase of 36% from the average daily volume of 87,116 shares. The stock had previously closed at C$152.86.

Wall Street Analyst Weigh In

BYD has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce cut their price target on Boyd Group Services from C$280.00 to C$275.00 in a research note on Tuesday, April 7th. National Bank Financial cut their price objective on Boyd Group Services from C$290.00 to C$265.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Jefferies Financial Group cut their price objective on Boyd Group Services from C$275.00 to C$250.00 in a research note on Thursday, March 19th. Stifel Nicolaus cut their price objective on Boyd Group Services from C$265.00 to C$255.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada cut their price objective on Boyd Group Services from C$294.00 to C$267.00 in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Boyd Group Services has an average rating of “Buy” and a consensus target price of C$262.17.

Boyd Group Services Trading Down 11.6%

The stock has a fifty day moving average of C$183.63 and a 200 day moving average of C$210.43. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.30 and a current ratio of 3.14. The company has a market capitalization of C$3.76 billion, a PE ratio of 164.85, a PEG ratio of -56.72 and a beta of 0.75.

Boyd Group Services (TSE:BYD) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.81 EPS for the quarter. Boyd Group Services had a return on equity of 1.74% and a net margin of 0.58%.The company had revenue of C$1.39 billion for the quarter. As a group, sell-side analysts predict that Boyd Group Services Inc. will post 7.1452646 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boyd Group Services news, insider Brian Kaner purchased 1,180 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were bought at an average cost of C$173.43 per share, with a total value of C$204,647.40. Following the acquisition, the insider owned 1,780 shares in the company, valued at approximately C$308,705.40. This trade represents a 196.67% increase in their ownership of the stock. Corporate insiders own 0.37% of the company’s stock.

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 .