Boyd Group Services Inc. (TSE:BYD – Get Free Report)’s stock price was down 11.7% during trading on Wednesday. The stock traded as low as C$108.37 and last traded at C$110.40. 324,701 shares traded hands during mid-day trading, an increase of 215% from the average daily volume of 103,180 shares. The stock had previously closed at C$124.97.
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. Boyd Group Third Quarter Sales Rise 28.2%
- Positive Sentiment: Some coverage argues BYD may be below fair value after its earnings-related selloff, with sales holding up. This is an analyst or valuation view, not a company forecast. Boyd Group Services Stock Looks Below Fair Value
- Negative Sentiment: Multiple firms cut price targets, including RBC to C$193 from C$224 and National Bank Financial to C$175 from C$270. Boyd reported quarterly EPS of C$0.97 and revenue of C$1.44 billion; its reported 0.26% net margin underscores limited profitability relative to its sales. Boyd Group Reports Third-Quarter Results
Wall Street Analyst Weigh In
BYD has been the subject of several analyst reports. Canadian Imperial Bank of Commerce cut Boyd Group Services from a “strong-buy” rating to a “hold” rating in a report on Thursday. National Bank Financial dropped their target price on Boyd Group Services from C$270.00 to C$175.00 and set an “outperform” rating on the stock in a report on Thursday. Desjardins reduced their price target on Boyd Group Services from C$225.00 to C$205.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group reduced their price target on Boyd Group Services from C$250.00 to C$225.00 in a research report on Thursday, August 13th. Finally, Scotiabank decreased their price target on Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating for the company in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$201.57.
Boyd Group Services Trading Down 1.4%
The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12. The company has a fifty day moving average price of C$116.01 and a two-hundred day moving average price of C$154.63. The firm has a market capitalization of C$3.01 billion, a price-to-earnings ratio of 240.29, a PEG ratio of -56.72 and a beta of 1.20.
Boyd Group Services (TSE:BYD – Get Free Report) last announced its quarterly earnings results on Wednesday, November 11th. The company reported C$0.97 earnings per share for the quarter. The firm had revenue of C$1.44 billion for the quarter. Boyd Group Services had a net margin of 0.26% and a return on equity of 0.61%. As a group, research analysts forecast that Boyd Group Services Inc. will post 7.15 earnings per share for the current fiscal year.
Insider Transactions at Boyd Group Services
In other Boyd Group Services news, insider Jeff Murray bought 350 shares of the business’s stock in a transaction on Monday, September 28th. The stock was bought at an average price of C$111.17 per share, with a total value of C$38,909.50. Following the completion of the purchase, the insider directly owned 7,700 shares in the company, valued at C$856,009. The trade was a 4.76% increase in their ownership of the stock. 0.37% of the stock is currently owned by company 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 .
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