Boyd Group Services (TSE:BYD) Shares Up 1.1% – Here’s What Happened

Boyd Group Services Inc. (TSE:BYD)’s share price shot up 1.1% during mid-day trading on Monday . The stock traded as high as C$212.91 and last traded at C$212.00. 33,882 shares were traded during mid-day trading, a decline of 32% from the average session volume of 49,482 shares. The stock had previously closed at C$209.59.

Wall Street Analysts Forecast Growth

BYD has been the subject of a number of recent analyst reports. CIBC lowered their price target on shares of Boyd Group Services from C$286.00 to C$278.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group raised shares of Boyd Group Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 3rd. Stifel Nicolaus dropped their target price on shares of Boyd Group Services from C$265.00 to C$255.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. ATB Capital reduced their price target on Boyd Group Services from C$295.00 to C$290.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, Stephens raised Boyd Group Services to a “strong-buy” rating and set a C$240.00 price target for the company in a research report on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$264.83.

Boyd Group Services Price Performance

The stock has a market cap of C$3.21 billion, a P/E ratio of 78.08, a price-to-earnings-growth ratio of -56.72 and a beta of 0.99. The company has a debt-to-equity ratio of 150.94, a quick ratio of 0.30 and a current ratio of 0.70. The firm has a 50-day moving average price of C$208.12 and a 200-day moving average price of C$216.51.

Boyd Group Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Monday, June 30th will be issued a $0.153 dividend. This is an increase from Boyd Group Services’s previous quarterly dividend of $0.15. This represents a $0.61 dividend on an annualized basis and a yield of 0.29%. Boyd Group Services’s dividend payout ratio is 22.10%.

Insider Buying and Selling

In other Boyd Group Services news, Director Robert Berthold Espey bought 150 shares of Boyd Group Services stock in a transaction dated Tuesday, June 10th. The shares were purchased at an average cost of C$201.74 per share, with a total value of C$30,261.00. Corporate insiders own 0.37% of the company’s stock.

Boyd Group Services Company Profile

Boyd Group Services Inc is a personal services company that provides auto body and auto glass repair services at its portfolio of facilities located across the United States and Canada. The company operates in Canada primarily under the Boyd Autobody and Glass brand name, while its most notable U.S. brand is Gerber Collision and Glass.