Boyd Group Services (TSE:BYD) Price Target Cut to C$275.00 by Analysts at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce cut its price target on Boyd Group to C$275 (from C$280), which the note says implies roughly a 62.26% upside from the current share price.
• Multiple brokers have trimmed targets recently (Stifel, BMO, TD, Jefferies), yet the consensus remains a Buy with a consensus price target of C$262.58.
• Shares traded at C$169.48 midday—well below analyst targets—and the company shows stretched metrics including a PE of 206.68, a net margin of 0.58%, and a debt-to-equity near 100%, signalling valuation and leverage risks.

Boyd Group Services (TSE:BYD - Get Free Report) had its price target dropped by research analysts at Canadian Imperial Bank of Commerce from C$280.00 to C$275.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target would indicate a potential upside of 62.26% from the company's current price.

BYD has been the subject of a number of other research reports. Stifel Nicolaus dropped their target price on shares of Boyd Group Services from C$270.00 to C$265.00 in a research report on Friday, March 20th. BMO Capital Markets dropped their target price on shares of Boyd Group Services from C$280.00 to C$250.00 in a research report on Thursday, March 19th. Scotiabank set a C$264.00 target price on shares of Boyd Group Services and gave the stock an "outperform" rating in a research report on Wednesday, January 14th. TD Securities dropped their target price on shares of Boyd Group Services from C$290.00 to C$270.00 and set a "buy" rating for the company in a research report on Thursday, March 19th. Finally, Jefferies Financial Group dropped their target price on shares of Boyd Group Services from C$275.00 to C$250.00 in a research report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$262.58.

Boyd Group Services Price Performance

Shares of TSE:BYD traded down C$3.88 during midday trading on Tuesday, reaching C$169.48. 39,434 shares of the company's stock were exchanged, compared to its average volume of 76,939. The company's 50 day simple moving average is C$216.43 and its two-hundred day simple moving average is C$220.67. The firm has a market capitalization of C$4.72 billion, a PE ratio of 206.68, a price-to-earnings-growth ratio of -56.72 and a beta of 0.85. Boyd Group Services has a 12 month low of C$165.60 and a 12 month high of C$248.23. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.30 and a current ratio of 3.14.

Boyd Group Services (TSE:BYD - Get Free Report) last announced its earnings results on Wednesday, March 18th. The company reported C$1.24 earnings per share (EPS) for the quarter. The business had revenue of C$1.04 billion during the quarter. Boyd Group Services had a net margin of 0.58% and a return on equity of 1.74%. Equities research analysts expect that Boyd Group Services will post 7.1452646 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Brian Kaner acquired 1,180 shares of the stock in a transaction on Tuesday, March 31st. The stock was purchased at an average price of C$173.43 per share, for a total transaction of C$204,647.40. Following the transaction, the insider owned 1,780 shares of the company's stock, valued at C$308,705.40. The trade was a 196.67% increase in their position. 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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