Clearbridge Investments LLC Acquires Shares of 314,739 Boyd Group Services Inc. $BGSI

Clearbridge Investments LLC acquired a new stake in Boyd Group Services Inc. (NYSE:BGSI) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 314,739 shares of the company’s stock, valued at approximately $50,138,000.

Several other hedge funds also recently added to or reduced their stakes in BGSI. Louisbourg Investments Inc. purchased a new position in Boyd Group Services in the fourth quarter valued at about $7,272,000. Cidel Asset Management Inc. purchased a new position in Boyd Group Services in the fourth quarter valued at about $9,046,000. Addenda Capital Inc. purchased a new position in Boyd Group Services in the fourth quarter valued at about $10,843,000. Massachusetts Financial Services Co. MA purchased a new position in Boyd Group Services in the fourth quarter valued at about $29,216,000. Finally, Assetmark Inc. purchased a new position in Boyd Group Services in the fourth quarter valued at about $59,000. 0.17% of the stock is owned by hedge funds and other institutional investors.

Boyd Group Services Stock Performance

NYSE:BGSI opened at $100.73 on Tuesday. The firm has a market capitalization of $2.80 billion, a P/E ratio of 152.62 and a beta of 0.71. Boyd Group Services Inc. has a one year low of $94.77 and a one year high of $183.10. The stock has a 50-day moving average price of $115.03. The company has a quick ratio of 3.00, a current ratio of 3.14 and a debt-to-equity ratio of 0.54.

Boyd Group Services (NYSE:BGSI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.58 EPS 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%. On average, equities research analysts forecast that Boyd Group Services Inc. will post 3.85 EPS for the current fiscal year.

Boyd Group Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st were paid a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, March 31st. Boyd Group Services’s payout ratio is presently 68.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen lowered Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Stephens dropped their target price on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

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.