Boyd Group Services (TSE:BYD) Hits New 1-Year Low – Here’s Why

Boyd Group Services Inc. (TSE:BYD) shares hit a new 52-week low during trading on Thursday . The company traded as low as C$129.74 and last traded at C$134.54, with a volume of 415568 shares trading hands. The stock had previously closed at C$152.86.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BYD. Desjardins decreased their price objective on Boyd Group Services from C$270.00 to C$260.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Stifel Nicolaus decreased their price objective on Boyd Group Services from C$265.00 to C$255.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. BMO Capital Markets decreased their price objective on Boyd Group Services from C$280.00 to C$250.00 in a research report on Thursday, March 19th. Jefferies Financial Group decreased their price objective on Boyd Group Services from C$275.00 to C$250.00 in a research report on Thursday, March 19th. Finally, National Bank Financial decreased their price objective on Boyd Group Services from C$290.00 to C$265.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$262.17.

Boyd Group Services Price Performance

The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.30 and a current ratio of 3.14. The firm has a market capitalization of C$3.74 billion, a P/E ratio of 164.07, a price-to-earnings-growth ratio of -56.72 and a beta of 0.75. The company has a 50-day moving average price of C$181.57 and a 200-day moving average price of C$209.87.

Boyd Group Services (TSE:BYD) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.81 earnings per share (EPS) for the quarter. Boyd Group Services had a return on equity of 1.74% and a net margin of 0.58%.The business had revenue of C$1.39 billion for the quarter. On average, sell-side analysts predict that Boyd Group Services Inc. will post 7.1452646 earnings per share for the current year.

Insider Activity

In related news, insider Brian Kaner purchased 1,180 shares of Boyd Group Services stock in a transaction dated Tuesday, March 31st. The shares were acquired at an average cost of C$173.43 per share, for a total transaction of C$204,647.40. Following the transaction, the insider directly owned 1,780 shares of the company’s stock, valued at approximately C$308,705.40. This trade represents a 196.67% increase in their ownership of the stock. 0.37% of the stock is owned by corporate insiders.

Boyd Group Services Company Profile

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 .