Royal Bank of Canada Sells 97,978 Shares of Boyd Group Services Inc. $BGSI

Royal Bank of Canada trimmed its position in shares of Boyd Group Services Inc. (NYSE:BGSI) by 7.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,184,357 shares of the company’s stock after selling 97,978 shares during the period. Royal Bank of Canada’s holdings in Boyd Group Services were worth $151,432,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FIL Ltd bought a new stake in shares of Boyd Group Services during the 4th quarter worth approximately $411,269,000. Mackenzie Financial Corp bought a new position in Boyd Group Services in the fourth quarter valued at approximately $327,955,000. Bank of Montreal Can acquired a new position in Boyd Group Services during the fourth quarter valued at approximately $209,537,000. Vanguard Group Inc. bought a new stake in Boyd Group Services during the fourth quarter worth $187,263,000. Finally, CIBC Asset Management Inc bought a new stake in Boyd Group Services during the fourth quarter worth $126,509,000. 0.17% of the stock is owned by institutional investors.

Boyd Group Services Stock Performance

NYSE:BGSI opened at $103.26 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.60 and a quick ratio of 0.46. Boyd Group Services Inc. has a fifty-two week low of $88.97 and a fifty-two week high of $183.10. The firm’s 50 day moving average price is $100.01. The firm has a market cap of $2.87 billion, a P/E ratio of 156.46 and a beta of 0.76.

Boyd Group Services (NYSE:BGSI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 4.90%. Research analysts predict that Boyd Group Services Inc. will post 3.85 EPS for the current year.

Boyd Group Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th were paid a dividend of $0.156 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Boyd Group Services’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen cut Boyd Group Services from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stephens dropped 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 report on Tuesday, April 14th. Weiss Ratings restated a “sell (d)” rating on shares of Boyd Group Services in a research note on Wednesday, June 24th. Finally, Zacks Research raised shares of Boyd Group Services from a “strong sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Boyd Group Services 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.