Boyd Group Services (TSE:BYD) Stock Gets Price Target Reduction from Raymond James Financial

Boyd Group Services (TSE:BYD) had its price target reduced by Raymond James Financial from C$240.00 to C$235.00 in a research report released on Thursday morning,BayStreet reports. Raymond James Financial currently has a strong-buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. ATB Cormark Capital Markets upped their price objective on shares of Boyd Group Services from C$245.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Mizuho set a C$120.00 target price on Boyd Group Services and gave the company an “outperform” rating in a research note on Friday, September 18th. Scotiabank dropped their target price on Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 13th. Royal Bank Of Canada cut their price target on Boyd Group Services from C$236.00 to C$224.00 and set an “outperform” rating on the stock in a research note on Monday, September 14th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Boyd Group Services from C$205.00 to C$208.00 in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Boyd Group Services presently has an average rating of “Buy” and a consensus price target of C$196.14.

Boyd Group Services Price Performance

Shares of BYD stock opened at C$106.48 on Thursday. The company has a market capitalization of C$2.96 billion, a PE ratio of 236.62, a price-to-earnings-growth ratio of -56.72 and a beta of 1.20. The firm has a fifty day simple moving average of C$115.65 and a 200-day simple moving average of C$154.03. The company has a current ratio of 0.59, a quick ratio of 0.30 and a debt-to-equity ratio of 118.40. Boyd Group Services has a twelve month low of C$105.65 and a twelve month high of C$248.23.

Boyd Group Services (TSE:BYD) last released its quarterly earnings results on Wednesday, November 11th. The company reported C$0.97 earnings per share for the quarter. Boyd Group Services had a negative net margin of 0.04% and a negative return on equity of 0.09%. The business had revenue of C$1.44 billion during the quarter. Equities research analysts anticipate that Boyd Group Services will post 7.15 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeff Murray purchased 350 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were 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 acquisition, the insider directly owned 7,700 shares of the company’s stock, valued at approximately C$856,009. The trade was a 4.76% increase in their position. Company insiders own 0.37% of the company’s stock.

Key Headlines Impacting Boyd Group Services

Here are a few of the latest headlines about BYD:

• 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

Boyd Group Services Company Profile

Boyd Group Services Inc. (‘BGSI’), through its operating company, The Boyd Group Inc. and its subsidiaries (‘Boyd’ or the ‘Company’), is one of the largest operators of non-franchised collision repair centers in North America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade name Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S., under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third party administrator, Gerber National Claims Services (‘GNCS’), that offers glass, emergency roadside and first notice of loss services.