Desjardins Cuts Boyd Group Services (TSE:BYD) Price Target to C$225.00

Key Points

• Desjardins lowered Boyd Group Services’ price target to C$225 from C$240 while maintaining a “buy” rating, implying 73.26% potential upside from the reported price.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average target of C$230. Several firms adjusted their targets, ranging from C$190 to C$270.
• Boyd shares fell C$16.51 to C$129.86 in Thursday trading, near their 52-week low, while the company reported quarterly revenue of C$1.44 billion and EPS of C$1.14.

Boyd Group Services (TSE:BYD - Get Free Report) had its price target lowered by analysts at Desjardins from C$240.00 to C$225.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' target price would suggest a potential upside of 73.26% from the stock's current price.

BYD has been the subject of several other research reports. BMO Capital Markets lowered their price target on shares of Boyd Group Services from C$200.00 to C$190.00 in a research report on Thursday. National Bank Financial boosted their target price on shares of Boyd Group Services from C$265.00 to C$270.00 and gave the company an "outperform" rating in a research note on Thursday. Canadian Imperial Bank of Commerce upped their target price on shares of Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday. Stifel Nicolaus dropped their price target on shares of Boyd Group Services from C$255.00 to C$205.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. Finally, ATB Cormark Capital Markets lifted their price target on Boyd Group Services from C$245.00 to C$250.00 and gave the company an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, Boyd Group Services has a consensus rating of "Buy" and an average target price of C$230.00.

Boyd Group Services Stock Performance

TSE BYD traded down C$16.51 during trading hours on Thursday, reaching C$129.86. The company's stock 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 business has a 50-day simple moving average of C$139.86 and a 200 day simple moving average of C$172.90. Boyd Group Services has a 52 week low of C$125.16 and a 52 week high of C$248.23. The stock has a market cap of C$3.61 billion, a PE ratio of 196.76, a PEG ratio of -56.72 and a beta of 1.02.

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

Insider Activity at Boyd Group Services

In related news, Director Robert Berthold Espey purchased 500 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of C$150.00 per share, for a total transaction of C$75,000.00. Following the transaction, the director owned 3,350 shares of the company's stock, valued at C$502,500. This represents a 17.54% increase in their ownership of the stock. Company insiders own 0.37% of the company's stock.

About Boyd Group Services

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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