Boyd Group Services (TSE:BYD) Trading 0.9% Higher on Analyst Upgrade

Boyd Group Services Inc. (TSE:BYD)’s stock price rose 0.9% on Tuesday after CIBC raised their price target on the stock from C$257.00 to C$270.00. CIBC currently has an outperform rating on the stock. Boyd Group Services traded as high as C$213.70 and last traded at C$212.17. Approximately 73,598 shares traded hands during trading, an increase of 54% from the average daily volume of 47,760 shares. The stock had previously closed at C$210.25.

A number of other equities research analysts have also recently commented on BYD. Royal Bank Of Canada increased their price objective on shares of Boyd Group Services from C$270.00 to C$272.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. ATB Capital lowered their price objective on shares of Boyd Group Services from C$290.00 to C$270.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. Desjardins increased their price objective on shares of Boyd Group Services from C$255.00 to C$270.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Stifel Nicolaus increased their price objective on shares of Boyd Group Services from C$255.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Finally, National Bankshares increased their price objective on shares of Boyd Group Services from C$245.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$261.55.

Boyd Group Services Price Performance

The company has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 558.34, a PEG ratio of -56.72 and a beta of 0.39. The company’s 50 day simple moving average is C$226.50 and its 200-day simple moving average is C$212.42. The company has a current ratio of 0.70, a quick ratio of 0.30 and a debt-to-equity ratio of 150.94.

Boyd Group Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.153 per share. This represents a $0.61 annualized dividend and a dividend yield of 0.3%. Boyd Group Services’s payout ratio is currently 114.83%.

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.