Boyd Group Services (TSE:BYD) Reaches New 52-Week Low - Here's What Happened

Key Points

• Boyd Group Services Inc. (TSE:BYD) hit a new 52-week low at C$187.76, down from a previous close of C$192.05 with a trading volume of 2,058 shares.
• Analysts have lowered their price targets for the stock, with National Bankshares setting a new objective of C$245.00 while maintaining an "outperform" rating, contributing to a consensus target price of C$262.00.
• The company recently declared an increased quarterly dividend of $0.153 per share, representing a yield of 0.3% and a 22.10% payout ratio.

Shares of Boyd Group Services Inc. (TSE:BYD - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as C$187.76 and last traded at C$187.76, with a volume of 2058 shares. The stock had previously closed at C$192.05.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BYD. National Bankshares decreased their price objective on Boyd Group Services from C$260.00 to C$245.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. CIBC decreased their price objective on Boyd Group Services from C$249.00 to C$244.00 in a report on Thursday, July 17th. Royal Bank Of Canada decreased their price objective on Boyd Group Services from C$277.00 to C$270.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Stephens raised Boyd Group Services to a "strong-buy" rating and set a C$240.00 price objective on the stock in a report on Wednesday, June 11th. Finally, TD Securities decreased their price objective on Boyd Group Services from C$290.00 to C$280.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$262.00.

Boyd Group Services Stock Down 2.2%

The company has a fifty day moving average of C$207.06 and a two-hundred day moving average of C$215.64. The company has a market cap of C$2.85 billion, a PE ratio of 69.16, a price-to-earnings-growth ratio of -56.72 and a beta of 0.99. The company has a debt-to-equity ratio of 150.94, a quick ratio of 0.30 and a current ratio of 0.70.

Boyd Group Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Monday, June 30th were issued a dividend of $0.153 per share. This represents a $0.61 annualized dividend and a yield of 0.3%. This is a positive change from Boyd Group Services's previous quarterly dividend of $0.15. Boyd Group Services's dividend payout ratio is presently 22.10%.

Insider Buying and Selling

In other Boyd Group Services news, Director Robert Berthold Espey acquired 150 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were bought at an average price of C$201.74 per share, with a total value of C$30,261.00. 0.37% of the stock is owned by company insiders.

About Boyd Group Services

Boyd Group Services Inc is a personal services company that provides auto body and auto glass repair services at its portfolio of facilities located across the United States and Canada. The company operates in Canada primarily under the Boyd Autobody and Glass brand name, while its most notable U.S. brand is Gerber Collision and Glass.

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