Addenda Capital Inc. Purchases New Position in Boyd Group Services Inc. $BGSI

Key Points

• Addenda Capital initiated a new position in Boyd Group Services (NYSE:BGSI) of 68,067 shares (~$10.84M), and Cidel Asset Management also opened a stake worth about $9.05M; Addenda owned roughly 0.24% of Boyd at quarter-end.
• Boyd reported stronger-than-expected EPS of $0.90 (vs. $0.63 est.) but missed revenue expectations ($793.85M vs. $821.73M) and announced a quarterly dividend of $0.156 ($0.62 annualized, ~0.5% yield) with an ex-dividend date of March 31 and payment on April 28.
• The stock recently opened at $123.20 and sits near its 52-week low ($119.35–$183.10); the company has a market cap of $3.43B and a PE of ~150, while analyst coverage is mixed but averages a "Moderate Buy" with a $200 target.

Addenda Capital Inc. purchased a new stake in Boyd Group Services Inc. (NYSE:BGSI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 68,067 shares of the company's stock, valued at approximately $10,843,000. Addenda Capital Inc. owned approximately 0.24% of Boyd Group Services at the end of the most recent quarter.

Separately, Cidel Asset Management Inc. purchased a new position in Boyd Group Services in the 4th quarter valued at about $9,046,000. 0.17% of the stock is owned by hedge funds and other institutional investors.

Boyd Group Services Stock Down 0.5%

Shares of NYSE BGSI opened at $123.20 on Thursday. The stock has a 50-day simple moving average of $156.59. Boyd Group Services Inc. has a 52-week low of $119.35 and a 52-week high of $183.10. The company has a market capitalization of $3.43 billion, a PE ratio of 150.25 and a beta of 0.96.

Boyd Group Services (NYSE:BGSI - Get Free Report) last issued its earnings results on Wednesday, March 18th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.27. Boyd Group Services had a net margin of 0.59% and a return on equity of 5.89%. The firm had revenue of $793.85 million for the quarter, compared to analysts' expectations of $821.73 million.

Boyd Group Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st will be issued a $0.156 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.62 dividend on an annualized basis and a yield of 0.5%. Boyd Group Services's dividend payout ratio (DPR) is currently 54.88%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank raised shares of Boyd Group Services to a "strong-buy" rating in a research report on Wednesday, January 14th. Wall Street Zen raised shares of Boyd Group Services from a "hold" rating to a "buy" rating in a research report on Sunday, March 22nd. Stephens reaffirmed an "overweight" rating and set a $200.00 price target on shares of Boyd Group Services in a research report on Thursday, March 19th. Finally, Weiss Ratings began coverage on shares of Boyd Group Services in a research report on Thursday, January 15th. They set a "sell (d+)" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $200.00.

Boyd Group Services Profile

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.

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