Desjardins Issues Pessimistic Forecast for Boyd Group Services (TSE:BYD) Stock Price

Boyd Group Services (TSE:BYD) had its price target decreased by equities researchers at Desjardins from C$240.00 to C$225.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 73.26% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Royal Bank Of Canada dropped their price target on shares of Boyd Group Services from C$267.00 to C$245.00 in a research report on Friday, May 15th. 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. Stifel Nicolaus dropped their target price on shares of Boyd Group Services from C$255.00 to C$205.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. TD increased their target price on shares of Boyd Group Services from C$190.00 to C$200.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Scotia reduced their target price on shares of Boyd Group Services from C$239.00 to C$231.00 and set a “sector outperform” rating for the company in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$230.00.

Boyd Group Services Price Performance

Shares of BYD traded down C$16.51 during midday trading on Thursday, reaching C$129.86. The stock had a trading volume of 331,404 shares, compared to its average volume of 91,194. The company has a debt-to-equity ratio of 119.31, a current ratio of 0.60 and a quick ratio of 0.30. The company has a market capitalization of C$3.61 billion, a P/E ratio of 196.76, a P/E/G ratio of -56.72 and a beta of 1.02. The firm’s 50 day moving average price is C$139.86 and its 200-day moving average price is C$172.90. Boyd Group Services has a 52 week low of C$125.16 and a 52 week high of C$248.23.

Boyd Group Services (TSE:BYD) last announced its earnings results on Wednesday, August 12th. The company reported C$1.14 earnings per share for the quarter. Boyd Group Services had a return on equity of 1.04% and a net margin of 0.40%.The business had revenue of C$1.44 billion during the quarter. On average, analysts forecast that Boyd Group Services will post 7.1452646 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Berthold Espey bought 500 shares of Boyd Group Services stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of C$150.00 per share, with a total value of C$75,000.00. Following the completion of the acquisition, the director directly owned 3,350 shares in the company, valued at approximately C$502,500. This trade represents a 17.54% increase in their position. 0.37% of the stock is 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 .