Boyd Group Services (TSE:BYD) Stock Price Breaks Below 50 Day Moving Average – Time to Sell?

Shares of Boyd Group Services Inc. (TSE:BYD) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$116.25 and traded as low as C$108.37. Boyd Group Services shares last traded at C$109.70, with a volume of 575,418 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BYD shares. Royal Bank Of Canada dropped their price target on Boyd Group Services from C$236.00 to C$224.00 and set an “outperform” rating for the company in a research note on Monday, September 14th. TD lowered their price objective on Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating for the company in a research report on Friday, October 9th. Scotiabank cut their price target on Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 13th. ATB Cormark Capital Markets raised their price objective on shares of Boyd Group Services from C$245.00 to C$250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group lowered their price objective on shares of Boyd Group Services from C$250.00 to C$225.00 in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$219.50.

Boyd Group Services Stock Down 12.2%

The company has a market cap of C$3.05 billion, a P/E ratio of 243.78, a PEG ratio of -56.72 and a beta of 1.20. The stock’s 50-day moving average price is C$116.25 and its 200-day moving average price is C$155.24. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12.

Boyd Group Services (TSE:BYD) last issued its earnings results on Wednesday, November 11th. The company reported C$0.97 EPS for the quarter. Boyd Group Services had a return on equity of 0.61% and a net margin of 0.26%. The business had revenue of C$1.44 billion during the quarter. As a group, research analysts forecast that Boyd Group Services Inc. will post 7.15 EPS for the current year.

Insider Buying and Selling at Boyd Group Services

In other news, insider Jeff Murray bought 350 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average cost of C$111.17 per share, for a total transaction of C$38,909.50. Following the acquisition, the insider directly owned 7,700 shares in the company, valued at approximately C$856,009. This trade represents a 4.76% increase in their ownership of the stock. 0.37% of the stock is owned by insiders.

About Boyd Group Services

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at https://www.boydgroup.com .