Boyd Group Services (TSE:BYD) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• RBC cut its price target on Boyd Group Services to C$193 from C$224 but maintained an “outperform” rating; its revised target implies 81.12% upside from the reported share price.
• Other analysts also lowered targets, though the overall consensus remained “Buy,” with an average target of C$201.57.
• Shares fell 2.9% to C$106.56 on Thursday. Third-quarter revenue rose 28% year over year to C$1.44 billion, and the company reported C$0.97 in EPS.

Boyd Group Services (TSE:BYD - Get Free Report) had its price target reduced by equities researchers at Royal Bank Of Canada from C$224.00 to C$193.00 in a report released on Thursday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 81.12% from the company's current price.

Other equities analysts have also issued research reports about the stock. TD decreased their price target 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 report on Friday, October 9th. Raymond James Financial lowered their price objective on shares of Boyd Group Services from C$240.00 to C$235.00 and set a "strong-buy" rating for the company in a research report on Thursday. ATB Cormark Capital Markets dropped their price objective on Boyd Group Services from C$250.00 to C$180.00 and set an "outperform" rating on the stock in a research note on Thursday. Jefferies Financial Group reduced their target price on Boyd Group Services from C$250.00 to C$225.00 in a report on Thursday, August 13th. Finally, Desjardins decreased their target price on Boyd Group Services from C$225.00 to C$205.00 and set a "buy" rating for the company in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$201.57.

Boyd Group Services Trading Down 2.9%

Boyd Group Services 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 company has a fifty day simple moving average of C$116.25 and a two-hundred day simple moving average of C$155.24. Boyd Group Services has a 52 week low of C$105.75 and a 52 week high of C$248.23. The stock has a market capitalization of C$2.97 billion, a PE ratio of 236.80, a P/E/G ratio of -56.72 and a beta of 1.20. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 117.12.

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

Insider Activity

In other news, insider Jeff Murray acquired 350 shares of the firm's stock in a transaction that occurred on Monday, September 28th. The stock was acquired at an average cost of C$111.17 per share, for a total transaction of C$38,909.50. Following the completion of the acquisition, the insider owned 7,700 shares in the company, valued at C$856,009. This represents a 4.76% increase in their ownership of the stock. Insiders own 0.37% of the company's stock.

Key Stories Impacting Boyd Group Services

Investors following BYD have been watching these stories:

• 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
• 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: 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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