CIBC Asset Management Inc Invests $126.51 Million in Boyd Group Services Inc. $BGSI

CIBC Asset Management Inc acquired a new position in shares of Boyd Group Services Inc. (NYSE:BGSI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 793,752 shares of the company’s stock, valued at approximately $126,509,000.

Several other large investors also recently modified their holdings of BGSI. Assetmark Inc. acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $59,000. Pictet Asset Management Holding SA acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $774,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $1,268,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $1,882,000. Finally, UBS Group AG acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $2,071,000. Institutional investors and hedge funds own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BGSI shares. Stephens reduced their target price on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Wall Street Zen downgraded Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Boyd Group Services Trading Down 2.8%

NYSE BGSI opened at $104.49 on Wednesday. The company has a fifty day simple moving average of $118.60. Boyd Group Services Inc. has a 12-month low of $94.77 and a 12-month high of $183.10. The company has a current ratio of 3.14, a quick ratio of 3.00 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.91 billion, a P/E ratio of 158.32 and a beta of 0.71.

Boyd Group Services (NYSE:BGSI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 5.54%. Sell-side analysts predict that Boyd Group Services Inc. will post 3.85 EPS for the current year.

Boyd Group Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.156 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. Boyd Group Services’s payout ratio is 68.18%.

Boyd Group Services Profile

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.