Boyd Group Services (TSE:BYD) Sets New 12-Month Low After Analyst Downgrade

Key Points

• 52-week low: Boyd Group's shares fell to as low as C$165.19 (last at C$165.82) after Canadian Imperial Bank of Commerce cut its price target to C$275.00.
• Multiple major brokers (RBC, BMO, TD, Raymond James) trimmed targets recently, yet the consensus rating remains a Buy with an average target of C$262.58, implying material upside from the current price.
• Insider purchase and mixed fundamentals: Insider Brian Kaner bought 1,180 shares at C$173.43, while the company shows a very high P/E (203.8), low net margin (0.58%) and a near-100% debt-to-equity ratio, signaling elevated valuation and leverage risk.

Boyd Group Services Inc. (TSE:BYD - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday after Canadian Imperial Bank of Commerce lowered their price target on the stock from C$280.00 to C$275.00. The company traded as low as C$165.19 and last traded at C$165.82, with a volume of 60950 shares traded. The stock had previously closed at C$171.87.

Several other equities research analysts have also recently commented on BYD. Scotiabank set a C$264.00 price objective on Boyd Group Services and gave the stock an "outperform" rating in a report on Wednesday, January 14th. Royal Bank Of Canada lowered their target price on Boyd Group Services from C$294.00 to C$267.00 in a report on Thursday, March 19th. BMO Capital Markets lowered their target price on Boyd Group Services from C$280.00 to C$250.00 in a report on Thursday, March 19th. TD Securities decreased their price objective on Boyd Group Services from C$290.00 to C$270.00 and set a "buy" rating on the stock in a research note on Thursday, March 19th. Finally, Raymond James Financial reduced their target price on Boyd Group Services from C$275.00 to C$270.00 in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$262.58.

Insiders Place Their Bets

In related news, insider Brian Kaner purchased 1,180 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The shares were acquired at an average price of C$173.43 per share, with a total value of C$204,647.40. Following the acquisition, the insider owned 1,780 shares in the company, valued at approximately C$308,705.40. This trade represents a 196.67% increase in their position. 0.37% of the stock is currently owned by company insiders.

Boyd Group Services Stock Down 2.8%

The firm has a 50 day simple moving average of C$215.34 and a two-hundred day simple moving average of C$220.23. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.30 and a current ratio of 3.14. The stock has a market cap of C$4.65 billion, a P/E ratio of 203.82, a P/E/G ratio of -56.72 and a beta of 0.85.

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 for the quarter. The firm had revenue of C$1.04 billion for the quarter. Boyd Group Services had a return on equity of 1.74% and a net margin of 0.58%. Equities research analysts predict that Boyd Group Services Inc. will post 7.1452646 earnings per share for the current 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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