Cumberland Partners Ltd Purchases 17,800 Shares of Boyd Group Services Inc. $BGSI

Cumberland Partners Ltd lifted its holdings in Boyd Group Services Inc. (NYSE:BGSI) by 135.9% in the first quarter, HoldingsChannel reports. The fund owned 30,900 shares of the company’s stock after buying an additional 17,800 shares during the period. Cumberland Partners Ltd’s holdings in Boyd Group Services were worth $3,932,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BGSI. Principal Financial Group Inc. bought a new position in shares of Boyd Group Services during the fourth quarter valued at about $62,264,000. Van Berkom & Associates Inc. bought a new stake in shares of Boyd Group Services in the fourth quarter worth about $5,010,000. TD Waterhouse Canada Inc. bought a new stake in shares of Boyd Group Services in the fourth quarter worth about $2,845,000. Cidel Asset Management Inc. purchased a new position in Boyd Group Services during the 4th quarter valued at about $9,046,000. Finally, Intact Investment Management Inc. purchased a new position in Boyd Group Services during the 4th quarter valued at about $25,769,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

BGSI has been the subject of several research analyst reports. Stephens dropped their price objective on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Wall Street Zen cut Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research downgraded Boyd Group Services from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Boyd Group Services in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $157.00.

Boyd Group Services Price Performance

BGSI opened at $101.53 on Friday. The stock has a 50-day moving average of $99.79. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 153.83 and a beta of 0.76. Boyd Group Services Inc. has a 1 year low of $88.97 and a 1 year high of $183.10.

Boyd Group Services (NYSE:BGSI) last issued its earnings results on Wednesday, May 13th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Boyd Group Services had a return on equity of 4.90% and a net margin of 0.39%. As a group, sell-side analysts anticipate that Boyd Group Services Inc. will post 3.85 EPS for the current year.

Boyd Group Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th will be issued a $0.156 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.62 annualized dividend and a yield of 0.6%. Boyd Group Services’s dividend payout ratio (DPR) is currently 66.67%.

About Boyd Group Services

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.