Boyd Group Services (TSE:BYD) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Boyd Group Services Inc. (TSE:BYD) shares passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$116.25 and traded as low as C$108.37. Boyd Group Services shares last traded at C$109.70, with a volume of 575,418 shares changing hands.

More Boyd Group Services News

Investors following BYD have been watching these news items:

• Positive Sentiment: Third-quarter sales rose 28.2% to $1.01 billion, indicating continued revenue growth. A separate valuation analysis argues that BYD may be below fair value while sales hold up. Third-quarter sales report Valuation analysis
• Positive Sentiment: Despite reducing their targets, Scotia, TD, National Bank, RBC, ATB Cormark, Desjardins and Raymond James maintained buy or outperform-equivalent ratings. Their revised targets remain well above the roughly C$107 share price, suggesting analysts see considerable recovery potential. Scotia rating TD rating
• Neutral Sentiment: Boyd reported C$0.97 in quarterly EPS and C$1.44 billion in revenue. The results provide context for the recent reassessment of the stock, though the supplied report does not include a comparison with analyst expectations. Quarterly results

Analysts Set New Price Targets

BYD has been the subject of a number of analyst reports. Scotia lowered their target price on shares of Boyd Group Services from C$175.00 to C$170.00 and set an “outperform” rating for the company in a research note on Friday. National Bank Financial cut their price target on Boyd Group Services from C$270.00 to C$175.00 and set an “outperform” rating on the stock in a research note on Thursday. Canadian Imperial Bank of Commerce downgraded Boyd Group Services from a “strong-buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets decreased their price target on Boyd Group Services from C$200.00 to C$190.00 in a report on Thursday, August 13th. Finally, Desjardins lowered their price objective on Boyd Group Services from C$225.00 to C$205.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$196.14.

Boyd Group Services Trading Up 0.2%

The company has a market cap of C$2.96 billion, a price-to-earnings ratio of 236.62, a PEG ratio of -56.72 and a beta of 1.20. The company has a quick ratio of 0.30, a current ratio of 0.59 and a debt-to-equity ratio of 118.40. The business’s fifty day simple moving average is C$115.65 and its two-hundred day simple moving average is C$154.03.

Boyd Group Services (TSE:BYD) last issued its 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 during the quarter. Boyd Group Services had a negative net margin of 0.04% and a negative return on equity of 0.09%. On average, equities analysts predict that Boyd Group Services Inc. will post 7.15 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeff Murray purchased 350 shares of Boyd Group Services stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average cost of C$111.17 per share, with a total value of C$38,909.50. Following the completion of the transaction, the insider directly owned 7,700 shares in the company, valued at approximately C$856,009. The trade was a 4.76% increase in their ownership of the stock. 0.37% of the stock is currently owned by company insiders.

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 .