Boyd Group Services (TSE:BYD) Price Target Cut to C$275.00 by Analysts at Raymond James Financial

Key Points

• Analysts at Raymond James cut their target price on Boyd Group to C$275.00 (from C$290.00) but kept a strong-buy rating, implying about a 44.71% upside from the prior close.
• Multiple brokers (RBC, BMO, CIBC, Jefferies) also trimmed targets; the consensus remains a Buy with an average price target of C$259.31.
• BYD traded at C$190.04 midday, near its 52-week low, while fundamentals show a very high P/E (256.81), thin net margin (0.52%) and a high debt-to-equity ratio (158.71), highlighting valuation and balance-sheet risks.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price lowered by analysts at Raymond James Financial from C$290.00 to C$275.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 44.71% from the company's previous close.

A number of other analysts also recently issued reports on BYD. Royal Bank Of Canada cut their price target on shares of Boyd Group Services from C$294.00 to C$267.00 in a report on Thursday. BMO Capital Markets reduced their price target on shares of Boyd Group Services from C$280.00 to C$250.00 in a research report on Thursday. Scotiabank set a C$264.00 target price on Boyd Group Services and gave the company an "outperform" rating in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce decreased their price target on shares of Boyd Group Services from C$290.00 to C$280.00 in a research note on Thursday. Finally, Jefferies Financial Group lowered their price objective on Boyd Group Services from C$275.00 to C$250.00 in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Boyd Group Services currently has a consensus rating of "Buy" and an average price target of C$259.31.

Boyd Group Services Price Performance

BYD stock traded down C$2.80 during midday trading on Thursday, reaching C$190.04. The stock had a trading volume of 57,106 shares, compared to its average volume of 57,163. The company's fifty day simple moving average is C$227.31 and its 200 day simple moving average is C$225.43. The company has a market cap of C$5.29 billion, a price-to-earnings ratio of 256.81, a price-to-earnings-growth ratio of -56.72 and a beta of 0.40. The company has a current ratio of 0.70, a quick ratio of 0.30 and a debt-to-equity ratio of 158.71. Boyd Group Services has a 52-week low of C$184.20 and a 52-week high of C$248.23.

Boyd Group Services (TSE:BYD - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported C$1.24 earnings per share for the quarter. The firm had revenue of C$1.04 billion for the quarter. Boyd Group Services had a net margin of 0.52% and a return on equity of 1.91%. As a group, sell-side analysts predict that Boyd Group Services will post 7.1452646 earnings per share for the current fiscal year.

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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