Boyd Group Services (TSE:BYD) Stock Gets Price Target Trim from Desjardins

Boyd Group Services (TSE:BYD) had its target price cut by stock analysts at Desjardins from C$225.00 to C$205.00 in a note issued to investors on Thursday, BayStreet reports. The firm currently has a “buy” rating on the stock. Desjardins‘s price target points to a potential upside of 92.38% from the stock’s current price.

Several other analysts also recently weighed in on the company. BMO Capital Markets decreased their target price on Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday, August 13th. TD lowered their target price on Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating on the stock in a report on Friday, October 9th. Raymond James Financial dropped their price target on Boyd Group Services from C$240.00 to C$235.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Scotiabank cut their price target on Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating for the company in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Group Services currently has a consensus rating of “Buy” and a consensus price target of C$201.57.

Boyd Group Services Stock Performance

BYD stock traded down C$3.14 during mid-day trading on Thursday, reaching C$106.56. 255,266 shares of the stock traded hands, compared to its average volume of 105,065. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 117.12. Boyd Group Services has a 52 week low of C$105.75 and a 52 week high of C$248.23. The business has a 50-day moving average of C$116.25 and a two-hundred day moving average of C$155.24. The firm has a market capitalization of C$2.97 billion, a PE ratio of 236.80, a P/E/G ratio of -56.72 and a beta of 1.20.

Boyd Group Services (TSE:BYD) last issued its quarterly earnings results on Wednesday, November 11th. The company reported C$0.97 earnings per share (EPS) for the quarter. The company 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%. As a group, equities analysts predict that Boyd Group Services will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Boyd Group Services news, insider Jeff Murray purchased 350 shares of the firm’s 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 purchase, the insider directly owned 7,700 shares of the company’s stock, valued at approximately C$856,009. This represents a 4.76% increase in their ownership of the stock. 0.37% of the stock is currently owned by company insiders.

Trending Headlines about Boyd Group Services

These are some of the BYD headlines that stood out recently:

• Positive Sentiment: Third-quarter sales rose 28% from a year earlier to C$1.44 billion, indicating continued revenue growth. Boyd Group reports Q3 sales up 28 per cent from year ago
• Positive Sentiment: A Yahoo Finance analysis says Boyd could be about 50% undervalued following its earnings-related selloff, offering a bullish valuation argument. Boyd Group Services Could Be 50% Undervalued On Its Earnings Selloff
• Negative Sentiment: CIBC downgraded Boyd to Neutral with a C$125 price target, a cautious signal for investors. CIBC Downgrades Boyd Group Services to Neutral

About Boyd Group Services

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 .