Boyd Group Services (TSE:BYD) Stock Gets Price Target Reduction from Raymond James Financial

Key Points

• Raymond James cut its price target on Boyd Group Services from C$240 to C$235 but maintained a “strong buy” rating; the revised target implies 120.53% upside from the cited share price.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and an average price target of C$201.57.
• Boyd reported quarterly revenue of C$1.44 billion and earnings of C$0.97 per share. Shares traded at C$106.56 on Thursday, close to their 52-week low of C$105.75.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price decreased by equities research analysts at Raymond James Financial from C$240.00 to C$235.00 in a note issued to investors on Thursday, BayStreet reports. The firm presently has a "strong-buy" rating on the stock. Raymond James Financial's price objective indicates a potential upside of 120.53% from the stock's current price.

A number of other analysts have also issued reports on the stock. ATB Cormark Capital Markets lifted their price objective on shares of Boyd Group Services from C$245.00 to C$250.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Mizuho set a C$120.00 price target on Boyd Group Services and gave the company an "outperform" rating in a research report on Friday, September 18th. Canadian Imperial Bank of Commerce increased their price target on Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday, August 13th. Scotiabank dropped their price target 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 note on Thursday, August 13th. Finally, TD decreased 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 investment analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$201.57.

Boyd Group Services Price Performance

BYD stock traded down C$3.14 during midday trading on Thursday, hitting C$106.56. 255,266 shares of the stock were exchanged, compared to its average volume of 105,065. The stock 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. 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 has a fifty-two week low of C$105.75 and a fifty-two week high of C$248.23. The stock's 50-day moving average price is C$116.25 and its 200-day moving average price is C$155.24.

Boyd Group Services (TSE:BYD - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of C$1.44 billion during the quarter. Research analysts predict that Boyd Group Services will post 7.15 earnings per share for the current year.

Insider Buying and Selling

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

Key Headlines Impacting Boyd Group Services

Here are a few of the latest headlines 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
• Negative Sentiment: RBC lowered its price target to C$193, suggesting a more conservative outlook even though the revised target remains above the price in the supplied trading data. Boyd Group Price Target Lowered to CA$193 at RBC

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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