Boyd Group Services (TSE:BYD) Reaches New 1-Year Low After Analyst Downgrade

Shares of Boyd Group Services Inc. (TSE:BYD) hit a new 52-week low during mid-day trading on Wednesday after Canadian Imperial Bank of Commerce lowered their price target on the stock from C$280.00 to C$275.00. The stock traded as low as C$165.19 and last traded at C$165.82, with a volume of 60950 shares trading hands. The stock had previously closed at C$171.87.

Other equities analysts also recently issued reports about the stock. TD Securities cut their price target on shares of Boyd Group Services from C$290.00 to C$270.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Scotiabank set a C$264.00 price target on shares of Boyd Group Services and gave the company an “outperform” rating in a report on Wednesday, January 14th. Raymond James Financial dropped their target price on shares of Boyd Group Services from C$275.00 to C$270.00 in a research note on Thursday, April 2nd. Jefferies Financial Group dropped their target price on shares of Boyd Group Services from C$275.00 to C$250.00 in a research note on Thursday, March 19th. Finally, Stifel Nicolaus dropped their target price on shares of Boyd Group Services from C$270.00 to C$265.00 in a research note on Friday, March 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$262.58.

Insider Activity at Boyd Group Services

In other Boyd Group Services news, insider Brian Kaner purchased 1,180 shares of the stock in a transaction dated Tuesday, March 31st. The stock was bought at an average price of C$173.43 per share, for a total transaction of C$204,647.40. Following the transaction, the insider directly owned 1,780 shares in the company, valued at C$308,705.40. This represents a 196.67% increase in their ownership of the stock. 0.37% of the stock is currently owned by corporate insiders.

Boyd Group Services Stock Performance

The stock has a market cap of C$4.75 billion, a price-to-earnings ratio of 208.20, a PEG ratio of -56.72 and a beta of 0.85. The stock’s fifty day moving average is C$214.29 and its 200-day moving average is C$219.88. The company has a quick ratio of 0.30, a current ratio of 3.14 and a debt-to-equity ratio of 99.84.

Boyd Group Services (TSE:BYD) last issued its quarterly earnings data on Wednesday, March 18th. The company reported C$1.24 earnings per share (EPS) for the quarter. The firm had revenue of C$1.04 billion during the quarter. Boyd Group Services had a net margin of 0.58% and a return on equity of 1.74%. On average, analysts forecast that Boyd Group Services Inc. will post 7.1452646 EPS for the current year.

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 .