Boyd Group Services (TSE:BYD) Cut to "Hold" at Canadian Imperial Bank of Commerce

Boyd Group Services (TSE:BYD - Get Free Report) was downgraded by equities research analysts at Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday, Zacks reports.

A number of other brokerages have also recently issued reports on BYD. Jefferies Financial Group decreased their target price on Boyd Group Services from C$250.00 to C$225.00 in a research report on Thursday, August 13th. Royal Bank Of Canada cut their price target on Boyd Group Services from C$224.00 to C$193.00 and set an "outperform" rating on the stock in a research report on Thursday. Scotiabank reduced 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 note on Thursday, August 13th. Mizuho set a C$120.00 price objective on Boyd Group Services and gave the company an "outperform" rating in a report on Friday, September 18th. Finally, ATB Cormark Capital Markets lowered their target price on shares of Boyd Group Services from C$250.00 to C$180.00 and set an "outperform" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$201.57.

Boyd Group Services Stock Performance

TSE BYD opened at C$106.26 on Thursday. The company has a debt-to-equity ratio of 117.12, a current ratio of 0.58 and a quick ratio of 0.30. Boyd Group Services has a 1 year low of C$105.65 and a 1 year high of C$248.23. The company has a market capitalization of C$2.96 billion, a PE ratio of 236.13, a P/E/G ratio of -56.72 and a beta of 1.20. The company has a fifty day moving average of C$116.01 and a two-hundred day moving average of C$154.63.

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

Insider Buying and Selling at Boyd Group Services

In related news, insider Jeff Murray purchased 350 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average price of C$111.17 per share, with a total value of C$38,909.50. Following the completion of the acquisition, the insider directly owned 7,700 shares in the company, valued at C$856,009. This represents a 4.76% increase in their position. Company insiders own 0.37% of the company's stock.

Key Headlines Impacting Boyd Group Services

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

• Positive Sentiment: Third-quarter sales rose 28.2% to $1.01 billion. Boyd reported quarterly EPS of C$0.97 and revenue of C$1.44 billion. The growth supports the view that demand is holding up. Boyd Group Third Quarter Sales Rise 28.2%
• Positive Sentiment: Valuation commentary argues that Boyd may be undervalued following its earnings-related selloff, with one analysis suggesting shares could be about 50% below fair value. This is an analyst opinion, not a company forecast. Boyd Group Could Be 50% Undervalued
• Neutral Sentiment: National Bank Financial, RBC, ATB Cormark, Desjardins and Raymond James all lowered their price targets, but retained positive ratings: outperform, buy or strong buy. Their revised targets ranged from C$175 to C$235, still well above the C$106.26 reference price cited in the reports. Read More., Read More., Read More., Read More. and Read More..

Boyd Group Services Company Profile

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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