Canadian Imperial Bank of Commerce Increases Boyd Group Services (TSE:BYD) Price Target to C$208.00

Key Points

• CIBC raised Boyd Group Services’ price target to C$208 from C$205, implying approximately 60% upside from the prior close.
• Despite the increase, several other analysts recently cut their targets; the stock retains a consensus “Buy” rating, with an average target price of C$230.
• Shares fell C$16.51 to C$129.86, near the company’s 52-week low, while the latest quarter included C$1.14 in EPS and C$1.44 billion in revenue.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price increased by research analysts at Canadian Imperial Bank of Commerce from C$205.00 to C$208.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price would indicate a potential upside of 60.17% from the stock's previous close.

Other analysts have also issued reports about the company. Royal Bank Of Canada lowered their price objective on Boyd Group Services from C$267.00 to C$245.00 in a research report on Friday, May 15th. BMO Capital Markets reduced their target price on shares of Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday. Stifel Nicolaus lowered their price target on shares of Boyd Group Services from C$255.00 to C$205.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. TD lowered their price target on shares of Boyd Group Services from C$270.00 to C$190.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Finally, Desjardins dropped their price target on shares of Boyd Group Services from C$260.00 to C$240.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$230.00.

Boyd Group Services Price Performance

Shares of Boyd Group Services stock traded down C$16.51 during midday trading on Thursday, reaching C$129.86. The company had a trading volume of 331,404 shares, compared to its average volume of 91,194. The company has a current ratio of 0.60, a quick ratio of 0.30 and a debt-to-equity ratio of 119.31. The stock has a fifty day simple moving average of C$139.86 and a 200 day simple moving average of C$172.90. Boyd Group Services has a 1-year low of C$125.16 and a 1-year high of C$248.23. The company has a market capitalization of C$3.61 billion, a price-to-earnings ratio of 196.76, a price-to-earnings-growth ratio of -56.72 and a beta of 1.02.

Boyd Group Services (TSE:BYD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$1.14 EPS for the quarter. The firm had revenue of C$1.44 billion for the quarter. Boyd Group Services had a return on equity of 1.04% and a net margin of 0.40%. As a group, equities research analysts forecast that Boyd Group Services will post 7.1452646 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Berthold Espey acquired 500 shares of Boyd Group Services stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of C$150.00 per share, with a total value of C$75,000.00. Following the purchase, the director directly owned 3,350 shares of the company's stock, valued at C$502,500. The trade was a 17.54% increase in their ownership of the stock. 0.37% of the stock is owned by insiders.

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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