Cardinal Point Capital Management ULC Buys New Shares in Boyd Group Services Inc. $BGSI

Cardinal Point Capital Management ULC bought a new stake in Boyd Group Services Inc. (NYSE:BGSI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,600 shares of the company’s stock, valued at approximately $2,967,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BGSI. Vanguard Group Inc. acquired a new stake in shares of Boyd Group Services in the fourth quarter valued at about $187,263,000. Principal Financial Group Inc. acquired a new stake in shares of Boyd Group Services in the fourth quarter valued at about $62,264,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Boyd Group Services in the fourth quarter valued at about $29,216,000. Intact Investment Management Inc. acquired a new stake in shares of Boyd Group Services in the fourth quarter valued at about $25,769,000. Finally, Addenda Capital Inc. acquired a new stake in shares of Boyd Group Services in the fourth quarter valued at about $10,843,000. Institutional investors and hedge funds own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BGSI. Scotiabank raised Boyd Group Services to a “strong-buy” rating in a research report on Wednesday, January 14th. Stephens reduced their price target on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Wall Street Zen cut Boyd Group Services from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings began coverage on Boyd Group Services in a report on Thursday, January 15th. They set a “sell (d+)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Boyd Group Services Stock Down 12.0%

Shares of NYSE:BGSI opened at $98.26 on Thursday. Boyd Group Services Inc. has a 12-month low of $94.77 and a 12-month high of $183.10. The company has a market capitalization of $2.73 billion, a PE ratio of 119.82 and a beta of 0.78. The stock’s 50 day moving average price is $132.30. The company has a current ratio of 3.14, a quick ratio of 3.00 and a debt-to-equity ratio of 0.54.

Boyd Group Services (NYSE:BGSI) last issued its quarterly earnings data 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 return on equity of 4.63% and a net margin of 0.59%. Equities research analysts expect that Boyd Group Services Inc. will post 4.05 earnings per share for the current year.

Boyd Group Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.156 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 31st. Boyd Group Services’s payout ratio is currently 54.88%.

About Boyd Group Services

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.