Boyd Group Services (TSE:BYD) Shares Up 0.9% Following Analyst Upgrade

Key Points

• Boyd Group Services shares increased by 0.9% following an upgrade from CIBC, which raised the price target from C$257.00 to C$270.00, maintaining an "outperform" rating.
• Multiple analysts have also upgraded their price targets, with Royal Bank Of Canada setting it at C$272.00, contributing to a consensus target price of C$261.55 and a general consensus rating of "Buy."
• The company announced a quarterly dividend of $0.153 per share, set to be paid on October 29th, which translates to an annualized yield of 0.3%.

Boyd Group Services Inc. (TSE:BYD - Get Free Report)'s stock price rose 0.9% during trading on Tuesday after CIBC raised their price target on the stock from C$257.00 to C$270.00. CIBC currently has an outperform rating on the stock. Boyd Group Services traded as high as C$213.70 and last traded at C$212.17. Approximately 73,598 shares traded hands during mid-day trading, an increase of 54% from the average daily volume of 47,760 shares. The stock had previously closed at C$210.25.

A number of other equities research analysts have also weighed in on BYD. Royal Bank Of Canada boosted their price objective on shares of Boyd Group Services from C$270.00 to C$272.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. National Bankshares boosted their price objective on shares of Boyd Group Services from C$245.00 to C$250.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Stifel Nicolaus boosted their price objective on shares of Boyd Group Services from C$255.00 to C$260.00 and gave the company a "buy" rating in a report on Thursday, August 14th. ATB Capital dropped their price objective on shares of Boyd Group Services from C$290.00 to C$270.00 and set an "outperform" rating on the stock in a report on Thursday, August 14th. Finally, Desjardins boosted their price objective on shares of Boyd Group Services from C$255.00 to C$270.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$261.55.

Boyd Group Services Stock Performance

The firm's 50 day moving average price is C$226.50 and its 200-day moving average price is C$212.42. The company has a debt-to-equity ratio of 150.94, a quick ratio of 0.30 and a current ratio of 0.70. The firm has a market capitalization of C$4.55 billion, a PE ratio of 558.34, a price-to-earnings-growth ratio of -56.72 and a beta of 0.39.

Boyd Group Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.153 per share. This represents a $0.61 annualized dividend and a dividend yield of 0.3%. Boyd Group Services's payout ratio is currently 114.83%.

Boyd Group Services Company Profile

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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