Boyd Group Services (TSE:BYD) Price Target Cut to C$236.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Boyd Group Services’ price target to C$236 from C$245 while maintaining an “outperform” rating, implying 81.73% potential upside from the prior close.
• Analyst sentiment remains positive, with the stock carrying an overall “Buy” rating and an average price target of C$230, despite several recent target reductions.
• Shares fell C$16.51 to C$129.86, near the company’s 52-week low of C$125.16. Boyd Group reported quarterly revenue of C$1.44 billion and earnings of C$1.14 per share.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price reduced by research analysts at Royal Bank Of Canada from C$245.00 to C$236.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price suggests a potential upside of 81.73% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Desjardins dropped their target price on shares of Boyd Group Services from C$240.00 to C$225.00 and set a "buy" rating for the company in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Boyd Group Services from C$255.00 to C$205.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Scotia lowered their price objective on shares of Boyd Group Services from C$239.00 to C$231.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 14th. ATB Cormark Capital Markets increased 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. Finally, TD raised their target price on shares of Boyd Group Services from C$190.00 to C$200.00 and gave the company a "buy" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$230.00.

Boyd Group Services Price Performance

Shares of Boyd Group Services stock traded down C$16.51 during trading on Thursday, reaching C$129.86. 331,404 shares of the company's stock were exchanged, compared to its average volume of 91,194. The company has a debt-to-equity ratio of 119.31, a quick ratio of 0.30 and a current ratio of 0.60. Boyd Group Services has a 1-year low of C$125.16 and a 1-year high of C$248.23. The company has a market cap of C$3.61 billion, a P/E ratio of 196.76, a PEG ratio of -56.72 and a beta of 1.02. The firm's 50-day moving average price is C$139.86 and its 200 day moving average price is C$172.90.

Boyd Group Services (TSE:BYD - Get Free Report) last released its quarterly earnings data 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 1.04% and a net margin of 0.40%.The business had revenue of C$1.44 billion for the quarter. As a group, research analysts anticipate that Boyd Group Services will post 7.1452646 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert Berthold Espey bought 500 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of C$150.00 per share, for a total transaction of C$75,000.00. Following the completion of the transaction, the director owned 3,350 shares of the company's stock, valued at C$502,500. This trade represents a 17.54% increase in their ownership of the stock. Corporate insiders own 0.37% of the company's stock.

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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