Boyd Group Services (TSE:BYD) Given New C$205.00 Price Target at Desjardins

Key Points

• Desjardins cut its price target on Boyd Group Services to C$205 from C$225 but maintained a Buy rating; the target implies 92.38% upside from the prior close.
• Shares fell 2.9% to C$106.56, near their 12-month low of C$105.75. Analysts’ average rating is Buy, with a consensus target of C$201.57.
• Boyd reported quarterly EPS of C$0.97 and revenue of C$1.44 billion. Insider Jeff Murray also bought 350 shares in September.

Boyd Group Services (TSE:BYD - Get Free Report) had its price target decreased by Desjardins from C$225.00 to C$205.00 in a research note issued on Thursday, BayStreet reports. The firm presently has a "buy" rating on the stock. Desjardins's price target suggests a potential upside of 92.38% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Royal Bank Of Canada reduced their price objective on Boyd Group Services from C$236.00 to C$224.00 and set an "outperform" rating for the company in a research report on Monday, September 14th. Canadian Imperial Bank of Commerce upped their target price on Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday, August 13th. BMO Capital Markets cut their price target on Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday, August 13th. Mizuho set a C$120.00 price target on Boyd Group Services and gave the stock an "outperform" rating in a research note on Friday, September 18th. Finally, National Bank Financial lifted their price target on Boyd Group Services from C$265.00 to C$270.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to MarketBeat.com, Boyd Group Services has an average rating of "Buy" and a consensus target price of C$201.57.

Boyd Group Services Trading Down 2.9%

BYD traded down C$3.14 during trading on Thursday, reaching C$106.56. The company had a trading volume of 255,266 shares, compared to its average volume of 105,065. The firm's 50-day simple moving average is C$116.25 and its 200 day simple moving average is C$155.24. The company has a market cap of C$2.97 billion, a price-to-earnings ratio of 236.80, a PEG ratio of -56.72 and a beta of 1.20. Boyd Group Services has a 12-month low of C$105.75 and a 12-month high of C$248.23. The company has a debt-to-equity ratio of 117.12, a quick ratio of 0.30 and a current ratio of 0.58.

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

Insiders Place Their Bets

In related news, insider Jeff Murray bought 350 shares of the firm's stock in a transaction on Monday, September 28th. The stock was 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 transaction, the insider directly owned 7,700 shares of the company's stock, 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.

Key Boyd Group Services News

These are some of the BYD news items that stood out recently:

• 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
• Negative Sentiment: CIBC downgraded Boyd to Neutral with a C$125 price target, a cautious signal for investors. CIBC Downgrades Boyd Group Services to Neutral

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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