ATB Cormark Capital Markets Issues Pessimistic Forecast for Boyd Group Services (TSE:BYD) Stock Price

Key Points

• ATB Cormark cut its Boyd Group Services price target from C$250 to C$180 but maintained an “outperform” rating; the new target implies about 69% upside from the reported C$106.56 share price.
• Analyst sentiment remained broadly positive: the stock had a consensus “Buy” rating and average price target of C$201.57, despite mixed target revisions from other firms.
• Shares fell 2.9% to C$106.56, near their 52-week low. Boyd reported quarterly EPS of C$0.97 and revenue of C$1.44 billion; third-quarter sales were up 28% year over year.

Boyd Group Services (TSE:BYD - Get Free Report) had its price target dropped by analysts at ATB Cormark Capital Markets from C$250.00 to C$180.00 in a report released on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price target would indicate a potential upside of 68.92% from the stock's current price.

Several other analysts have also recently weighed in on the stock. Canadian Imperial Bank of Commerce lifted their price target on shares of Boyd Group Services from C$205.00 to C$208.00 in a report on Thursday, August 13th. Scotiabank reduced their price objective on shares of Boyd Group Services from C$219.00 to C$210.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 13th. National Bank Financial upped their price objective on shares of Boyd Group Services from C$265.00 to C$270.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th. Raymond James Financial dropped their target price on shares of Boyd Group Services from C$240.00 to C$235.00 and set a "strong-buy" rating for the company in a research report on Thursday. Finally, TD dropped their target price on shares of Boyd Group Services from C$200.00 to C$175.00 and set a "top pick" rating for the company in a research report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$201.57.

Boyd Group Services Trading Down 2.9%

TSE BYD traded down C$3.14 on Thursday, hitting C$106.56. The company's stock had a trading volume of 255,266 shares, compared to its average volume of 105,065. Boyd Group Services has a 52-week low of C$105.75 and a 52-week high of C$248.23. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12. The company's 50-day simple moving average is C$116.25 and its 200 day simple moving average is C$155.24. The firm has a market cap of C$2.97 billion, a P/E ratio of 236.80, a PEG ratio of -56.72 and a beta of 1.20.

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

Insider Buying and Selling

In other news, insider Jeff Murray acquired 350 shares of Boyd Group Services stock in a transaction on Monday, September 28th. The stock was acquired at an average cost of C$111.17 per share, for a total transaction of C$38,909.50. Following the purchase, the insider owned 7,700 shares in the company, valued at C$856,009. This trade represents a 4.76% increase in their ownership of the stock. Company insiders own 0.37% of the company's stock.

Latest Boyd Group Services News

Here's some of the latest news about BYD:

• Positive Sentiment: Third-quarter sales rose 28% from a year earlier to C$1.44 billion, indicating continued revenue growth. Boyd Group reports Q3 sales up 28 per cent from year ago
• Positive Sentiment: A Yahoo Finance analysis says Boyd could be about 50% undervalued following its earnings-related selloff, offering a bullish valuation argument. Boyd Group Services Could Be 50% Undervalued On Its Earnings Selloff
• Neutral Sentiment: Boyd reported Q3 earnings of C$0.97 per share and revenue of C$1.44 billion. The figures provide context for the selloff, but the supplied reports do not give comparisons with analyst expectations. Boyd Group Services Reports Third-Quarter and Nine-Month Results

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 .

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