National Bank Financial Has Lowered Expectations for Boyd Group Services (TSE:BYD) Stock Price

Key Points

• National Bank Financial cut its Boyd Group Services price target to C$175 from C$270 but kept an “outperform” rating; the new target implies 64.23% upside from the previous close.
• Several other analysts also lowered their targets, though the consensus rating remains “Buy” with an average price target of C$201.57.
• Shares fell 2.9% to C$106.56, close to their 52-week low of C$105.75. The company reported quarterly EPS of C$0.97 and revenue of C$1.44 billion.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price dropped by research analysts at National Bank Financial from C$270.00 to C$175.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 64.23% from the stock's previous close.

A number of other analysts have also weighed in on the stock. TD reduced their price objective on shares of Boyd Group Services from C$200.00 to C$175.00 and set a "top pick" rating on the stock in a research report on Friday, October 9th. Scotiabank dropped their target price on Boyd Group Services from C$219.00 to C$210.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada dropped their target price on Boyd Group Services from C$224.00 to C$193.00 and set an "outperform" rating for the company in a research report on Thursday. Raymond James Financial cut their target price on Boyd Group Services from C$240.00 to C$235.00 and set a "strong-buy" rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group reduced their price target on Boyd Group Services from C$250.00 to C$225.00 in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$201.57.

Boyd Group Services Trading Down 2.9%

BYD stock traded down C$3.14 during midday trading on Thursday, reaching C$106.56. 255,266 shares of the company traded hands, compared to its average volume of 105,065. Boyd Group Services has a 52-week low of C$105.75 and a 52-week 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. The business has a 50 day moving average of C$116.25 and a 200-day moving average of C$155.24. The firm has a market capitalization of C$2.97 billion, a price-to-earnings ratio of 236.80, a P/E/G ratio of -56.72 and a beta of 1.20.

Boyd Group Services (TSE:BYD - Get Free Report) last posted its quarterly earnings data 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 business had revenue of C$1.44 billion during the quarter. As a group, sell-side analysts expect that Boyd Group Services will post 7.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeff Murray bought 350 shares of the firm's stock in a transaction on Monday, September 28th. The stock was acquired at an average cost of C$111.17 per share, with a total value of C$38,909.50. Following the transaction, the insider directly owned 7,700 shares in the company, valued at approximately C$856,009. This trade represents a 4.76% increase in their position. 0.37% of the stock is owned by insiders.

Recent Boyd Group Services Headlines

Investors following BYD have been watching these headlines:

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

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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