Beutel Goodman & Co Ltd. Sells 183,521 Shares of Boyd Group Services Inc. $BGSI

Key Points

• Beutel Goodman cut its Boyd Group Services position by 12.3%, selling 183,521 shares in the third quarter; it still held 1,308,360 shares, worth about $102.9 million.
• Analysts give the stock a consensus “Moderate Buy” rating with an average price target of $138.50; reported quarterly EPS of $0.80 missed the $0.94 consensus estimate, while revenue also came in below forecasts.
• Boyd paid a quarterly dividend of C$0.16 per share, equivalent to an annualized yield of about 0.7%.

Beutel Goodman & Co Ltd. decreased its position in Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,308,360 shares of the company's stock after selling 183,521 shares during the period. Beutel Goodman & Co Ltd. owned about 4.70% of Boyd Group Services worth $102,936,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its position in shares of Boyd Group Services by 23.5% during the first quarter. Assetmark Inc. now owns 457 shares of the company's stock valued at $58,000 after purchasing an additional 87 shares during the period. State of Wyoming acquired a new position in shares of Boyd Group Services in the third quarter valued at $65,000. Nykredit A S bought a new position in Boyd Group Services in the second quarter worth $95,000. Deutsche Bank AG bought a new position in Boyd Group Services in the second quarter worth $188,000. Finally, Amundi bought a new position in Boyd Group Services in the first quarter worth $277,000. Institutional investors own 0.17% of the company's stock.

Analysts Set New Price Targets

BGSI has been the topic of a number of recent research reports. Zacks Research upgraded shares of Boyd Group Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Boyd Group Services from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, October 29th. Finally, Mizuho initiated coverage on Boyd Group Services in a report on Friday, September 18th. They set an "outperform" rating and a $120.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Boyd Group Services has a consensus rating of "Moderate Buy" and an average target price of $138.50.

Boyd Group Services Stock Performance

Shares of NYSE:BGSI opened at $90.15 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.60 and a quick ratio of 0.46. The business's fifty day moving average price is $82.77 and its two-hundred day moving average price is $112.89. Boyd Group Services Inc. has a fifty-two week low of $75.42 and a fifty-two week high of $183.10. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 31.12 and a beta of 0.68.

Boyd Group Services (NYSE:BGSI - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.14). Boyd Group Services had a net margin of 0.25% and a return on equity of 5.21%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, analysts predict that Boyd Group Services Inc. will post 3.43 EPS for the current fiscal year.

Boyd Group Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Wednesday, September 30th were given a dividend of C$0.16 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.7%. Boyd Group Services's dividend payout ratio (DPR) is 95.65%.

Boyd Group Services Profile

Boyd Group Services Inc operates collision repair and automotive glass businesses in the United States and Canada. Its services include vehicle collision repairs, paint and refinishing, auto glass repair and replacement, and related services.

The company serves customers through brands including Gerber Collision & Glass in the United States and Boyd Autobody & Glass in Canada. Its repair centers work with vehicle owners, insurers and fleet operators.

Boyd Group traces its roots to an auto body repair business established in Winnipeg, Manitoba, in 1990.

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