Boyd Group Services (TSE:BYD) Price Target Cut to C$175.00 by Analysts at TD

Key Points

• TD lowered Boyd Group Services’ price target to C$175 from C$200 while maintaining its “top pick” rating; the new target implies 59.35% upside from the reported C$109.82 share price.
• Other brokerages also reduced their targets, but analyst sentiment remains positive: the stock has an average “Buy” rating and a consensus price target of C$219.50.
• Boyd Group shares traded near their 52-week low, while the company reported C$1.14 in quarterly EPS and C$1.44 billion in revenue; insider Jeff Murray also purchased 350 shares.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price dropped by equities researchers at TD from C$200.00 to C$175.00 in a report released on Friday, BayStreet reports. The firm presently has a "top pick" rating on the stock. TD's price target indicates a potential upside of 59.35% from the stock's current price.

Several other brokerages also recently issued reports on BYD. Desjardins decreased their target price on Boyd Group Services from C$240.00 to C$225.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Royal Bank Of Canada dropped their price target on Boyd Group Services from C$236.00 to C$224.00 and set an "outperform" rating for the company in a research note on Monday, September 14th. Scotiabank cut their price objective on shares of Boyd Group Services from C$219.00 to C$210.00 and set a "sector outperform" rating for the company in a report on Thursday, August 13th. BMO Capital Markets lowered their target price on shares of Boyd Group Services from C$200.00 to C$190.00 in a report on Thursday, August 13th. Finally, Mizuho set a C$120.00 target price on shares of Boyd Group Services and gave the company an "outperform" rating in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy 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$219.50.

Boyd Group Services Price Performance

Shares of BYD traded down C$1.45 during trading hours on Friday, reaching C$109.82. 92,933 shares of the stock traded hands, compared to its average volume of 100,449. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12. Boyd Group Services has a 52-week low of C$107.53 and a 52-week high of C$248.23. The company's 50-day moving average price is C$123.12 and its two-hundred day moving average price is C$141.61. The company has a market cap of C$3.06 billion, a P/E ratio of 244.04, a price-to-earnings-growth ratio of -56.72 and a beta of 1.10.

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

Insider Activity at Boyd Group Services

In other Boyd Group Services news, insider Jeff Murray bought 350 shares of Boyd Group Services stock in a transaction dated Monday, September 28th. The shares were purchased at an average cost of C$111.17 per share, for a total transaction of C$38,909.50. Following the acquisition, the insider directly owned 7,700 shares in the company, valued at approximately C$856,009. This represents a 4.76% increase in their position. 0.37% of the stock is owned by insiders.

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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