CIBC Asset Management Inc Takes $126.51 Million Position in Boyd Group Services Inc. $BGSI

CIBC Asset Management Inc acquired a new stake in Boyd Group Services Inc. (NYSE:BGSI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 793,752 shares of the company’s stock, valued at approximately $126,509,000. CIBC Asset Management Inc owned 2.85% of Boyd Group Services as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BGSI. Vanguard Group Inc. acquired a new stake in Boyd Group Services in the fourth quarter valued at $187,263,000. Principal Financial Group Inc. acquired a new stake in Boyd Group Services in the fourth quarter valued at $62,264,000. Norges Bank acquired a new stake in Boyd Group Services in the fourth quarter valued at $56,502,000. Massachusetts Financial Services Co. MA acquired a new stake in Boyd Group Services during the 4th quarter valued at approximately $29,216,000. Finally, Intact Investment Management Inc. acquired a new stake in Boyd Group Services during the 4th quarter valued at approximately $25,769,000. 0.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BGSI has been the subject of a number of recent analyst reports. Stephens decreased their target price on shares of Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Wall Street Zen downgraded shares of Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Boyd Group Services has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Boyd Group Services Trading Down 2.8%

Shares of Boyd Group Services stock opened at $104.49 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.00 and a current ratio of 3.14. The stock’s 50-day simple moving average is $118.60. Boyd Group Services Inc. has a 1-year low of $94.77 and a 1-year high of $183.10. The firm has a market cap of $2.91 billion, a P/E ratio of 158.32 and a beta of 0.71.

Boyd Group Services (NYSE:BGSI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a return on equity of 5.54% and a net margin of 0.39%. Equities research analysts forecast that Boyd Group Services Inc. will post 3.85 EPS for the current fiscal year.

Boyd Group Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.156 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.6%. Boyd Group Services’s dividend payout ratio (DPR) is 68.18%.

Boyd Group Services Company Profile

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.