Boyd Group Services (TSE:BYD) Given New C$170.00 Price Target at Scotia

Boyd Group Services (TSE:BYD) had its target price reduced by analysts at Scotia from C$175.00 to C$170.00 in a note issued to investors on Friday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Scotia‘s target price points to a potential upside of 59.59% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Raymond James Financial decreased 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 note on Thursday. Scotiabank cut their price objective on Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada decreased their price target on shares of Boyd Group Services from C$224.00 to C$193.00 and set an “outperform” rating on the stock in a research note on Thursday. Mizuho set a C$120.00 price objective on Boyd Group Services and gave the company an “outperform” rating in a research report on Friday, September 18th. Finally, National Bank Financial dropped their price target 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 report 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, Boyd Group Services has a consensus rating of “Buy” and an average target price of C$196.14.

Boyd Group Services Stock Performance

BYD stock traded up C$0.26 on Friday, hitting C$106.52. The company’s stock had a trading volume of 106,510 shares, compared to its average volume of 105,499. Boyd Group Services has a 1 year low of C$105.65 and a 1 year high of C$248.23. The stock has a market cap of C$2.97 billion, a price-to-earnings ratio of 236.71, a price-to-earnings-growth ratio of -56.72 and a beta of 1.20. The firm has a 50 day moving average of C$116.01 and a two-hundred day moving average of C$154.63. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12.

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

Insiders Place Their Bets

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

Top Boyd Group Services Stories

These are some of the BYD stories that stood out recently:

• 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 .