Boyd Group Services (TSE:BYD) Stock Price Target Cut by TD

Boyd Group Services (TSE:BYD) had its target price reduced by TD from C$175.00 to C$160.00 in a note issued to investors on Friday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. TD‘s target price would indicate a potential upside of 50.21% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Desjardins decreased their target price on Boyd Group Services from C$225.00 to C$205.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets dropped their price target on Boyd Group Services from C$200.00 to C$190.00 in a research report on Thursday, August 13th. Raymond James Financial dropped their price target on Boyd Group Services from C$240.00 to C$235.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Royal Bank Of Canada cut their price objective on Boyd Group Services from C$224.00 to C$193.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, National Bank Financial reduced their target price on shares of Boyd Group Services from C$270.00 to C$175.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$196.14.

Boyd Group Services Trading Up 0.2%

Shares of BYD stock traded up C$0.26 on Friday, hitting C$106.52. The stock had a trading volume of 106,510 shares, compared to its average volume of 105,499. Boyd Group Services has a twelve month low of C$105.65 and a twelve month high of C$248.23. The firm has a market cap of C$2.97 billion, a P/E ratio of 236.71, a PEG ratio of -56.72 and a beta of 1.20. 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.

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

Insider Activity

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

Key Headlines Impacting Boyd Group Services

Investors following BYD have been watching these headlines:

• Positive Sentiment: Recent valuation commentary suggests the shares may be below fair value, with sales holding up despite the earnings-related selloff. Boyd Group Services Stock Looks Below Fair Value As Sales Hold Up
• Neutral Sentiment: Third-quarter revenue was C$1.44 billion, and a separate report put sales growth at 28.2% to US$1.01 billion. Boyd reported C$0.97 in EPS; the results provide evidence of sales growth, but the figures alone do not establish whether results beat expectations. Boyd Group Third Quarter Sales Rise 28.2%
• Negative Sentiment: CIBC downgraded Boyd from “strong-buy” to “hold” and set a C$125 price target, adding to concerns about near-term upside. Multiple firms also cut targets, even while maintaining bullish ratings. CIBC downgrade and price target

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 .