Boyd Group Services (TSE:BYD) Given New C$224.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Boyd Group Services’ price target to C$224 from C$236, while maintaining an implied upside of 77.54% from the previous close.
• Several other analysts also reduced their targets, but sentiment remains positive: the stock has a consensus “Buy” rating and an average target of C$229.08.
• Boyd Group shares traded at C$126.17, well below their 12-month high of C$248.23. The company recently reported C$1.14 in quarterly EPS and C$1.44 billion in revenue.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price decreased by stock analysts at Royal Bank Of Canada from C$236.00 to C$224.00 in a research report issued on Monday, BayStreet reports. Royal Bank Of Canada's price objective would indicate a potential upside of 77.54% from the company's previous close.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday, August 13th. Desjardins reduced their price target on shares of Boyd Group Services from C$240.00 to C$225.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Jefferies Financial Group decreased their price target on shares of Boyd Group Services from C$250.00 to C$225.00 in a report on Thursday, August 13th. Scotiabank lowered their price objective on 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. Finally, Canadian Imperial Bank of Commerce boosted their target price on Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat.com, Boyd Group Services has a consensus rating of "Buy" and a consensus target price of C$229.08.

Boyd Group Services Price Performance

BYD traded up C$1.17 during trading on Monday, reaching C$126.17. 79,248 shares of the company were exchanged, compared to its average volume of 99,181. Boyd Group Services has a 12-month low of C$112.35 and a 12-month high of C$248.23. The company's 50-day moving average is C$134.35 and its two-hundred day moving average is C$155.98. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 117.12. The company has a market cap of C$3.51 billion, a price-to-earnings ratio of 280.38, a P/E/G ratio of -56.72 and a beta of 0.93.

Boyd Group Services (TSE:BYD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported C$1.14 earnings per share for the quarter. Boyd Group Services had a return on equity of 0.61% and a net margin of 0.26%.The firm had revenue of C$1.44 billion for the quarter. Research analysts forecast that Boyd Group Services will post 7.1452646 earnings per share for the current fiscal year.

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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