Desjardins Issues Pessimistic Forecast for Boyd Group Services (TSE:BYD) Stock Price

Key Points

• Desjardins cut its price target on Boyd Group Services to C$260 from C$270 while keeping a "buy" rating, implying roughly a 56% upside from the current share price.
• Several other brokerages also trimmed targets, leaving a consensus price target of about C$263 and an overall analyst consensus of "Buy" (majority Buy/Strong Buy ratings).
• BYD is trading at around C$166.14, well below its 50- and 200-day moving averages, carries a high P/E (~202.6) with thin net margins, and saw an insider (Brian Kaner) make a notable purchase.

Boyd Group Services (TSE:BYD - Get Free Report) had its target price reduced by research analysts at Desjardins from C$270.00 to C$260.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price objective suggests a potential upside of 56.49% from the stock's current price.

A number of other research firms have also weighed in on BYD. Jefferies Financial Group dropped their price target on shares of Boyd Group Services from C$275.00 to C$250.00 in a research report on Thursday, March 19th. BMO Capital Markets dropped their price target on shares of Boyd Group Services from C$280.00 to C$250.00 in a research report on Thursday, March 19th. Canadian Imperial Bank of Commerce dropped their price target on shares of Boyd Group Services from C$280.00 to C$275.00 in a research report on Tuesday, April 7th. Raymond James Financial dropped their price target on shares of Boyd Group Services from C$275.00 to C$270.00 in a research report on Thursday, April 2nd. Finally, National Bank Financial dropped their price target on shares of Boyd Group Services from C$290.00 to C$265.00 and set an "outperform" rating for the company in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$263.00.

Boyd Group Services Stock Performance

TSE BYD traded down C$0.12 during trading hours on Monday, hitting C$166.14. 17,082 shares of the company's stock traded hands, compared to its average volume of 86,476. The business's fifty day moving average price is C$192.88 and its two-hundred day moving average price is C$212.68. The company has a current ratio of 3.14, a quick ratio of 0.30 and a debt-to-equity ratio of 99.84. The firm has a market capitalization of C$4.62 billion, a P/E ratio of 202.61, a P/E/G ratio of -56.72 and a beta of 0.85. Boyd Group Services has a 52 week low of C$159.55 and a 52 week high of C$248.23.

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 (EPS) for the quarter. The company had revenue of C$1.04 billion during the quarter. Boyd Group Services had a net margin of 0.58% and a return on equity of 1.74%. Equities research analysts predict that Boyd Group Services will post 7.1452646 EPS for the current year.

Insider Buying and Selling at Boyd Group Services

In related news, insider Brian Kaner bought 1,180 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was purchased at an average price of C$173.43 per share, for a total transaction of C$204,647.40. Following the completion of the transaction, the insider owned 1,780 shares in the company, valued at C$308,705.40. The trade was a 196.67% increase in their ownership of the stock. Corporate insiders own 0.37% of the company's stock.

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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