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

Key Points

• Boyd Group Services hit a new 52-week low at C$186.50 per share, with recent trading at C$188.70, down from a previous close of C$192.78.
• Analysts have issued mixed ratings with upgrades from Goldman Sachs to "hold," but price targets from other firms have been reduced, indicating uncertainty about the stock's future performance.
• The company recently increased its quarterly dividend to $0.153 per share, reflecting a 22.10% dividend payout ratio, while also having a market capitalization of C$2.84 billion.

Boyd Group Services Inc. (TSE:BYD - Get Free Report)'s share price hit a new 52-week low on Thursday . The company traded as low as C$186.50 and last traded at C$188.70, with a volume of 15255 shares changing hands. The stock had previously closed at C$192.78.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BYD shares. The Goldman Sachs Group upgraded Boyd Group Services from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 3rd. Royal Bank Of Canada cut their price objective on Boyd Group Services from C$277.00 to C$270.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. National Bankshares dropped their price target on Boyd Group Services from C$260.00 to C$245.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price target on Boyd Group Services from C$265.00 to C$255.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Finally, TD Securities dropped their price target on Boyd Group Services from C$290.00 to C$280.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Boyd Group Services presently has a consensus rating of "Buy" and an average price target of C$262.00.

Boyd Group Services Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.30 and a debt-to-equity ratio of 150.94. The firm has a 50-day moving average of C$205.64 and a 200-day moving average of C$214.87. The stock has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 69.03, a P/E/G ratio of -56.72 and a beta of 0.99.

Boyd Group Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Monday, June 30th were given a dividend of $0.153 per share. This is an increase from Boyd Group Services's previous quarterly dividend of $0.15. This represents a $0.61 annualized dividend and a yield of 0.3%. Boyd Group Services's dividend payout ratio (DPR) is currently 22.10%.

Insiders Place Their Bets

In related news, Director Robert Berthold Espey purchased 150 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were bought at an average cost of C$201.74 per share, with a total value of C$30,261.00. Corporate insiders own 0.37% of the company's stock.

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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