Boyd Group Services Inc. $BGSI Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its Boyd Group Services stake by 7.6%, selling 97,978 shares and retaining 1.18 million shares worth approximately $151.4 million.
• Analyst views remain mixed: ratings range from Strong Buy to Sell, although the consensus rating is “Moderate Buy” with an average price target of $157, above the stock’s $103.26 price.
• Boyd Group reported quarterly EPS of $0.58, slightly exceeding estimates, and declared a quarterly dividend of $0.156 per share, representing a 0.6% annualized yield.

Royal Bank of Canada lowered its stake in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,184,357 shares of the company's stock after selling 97,978 shares during the period. Royal Bank of Canada owned approximately 4.26% of Boyd Group Services worth $151,432,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Van Berkom & Associates Inc. bought a new position in shares of Boyd Group Services in the fourth quarter valued at about $5,010,000. Principal Financial Group Inc. bought a new stake in shares of Boyd Group Services during the 4th quarter worth about $62,264,000. TD Waterhouse Canada Inc. bought a new stake in shares of Boyd Group Services during the 4th quarter worth about $2,845,000. NewGen Asset Management Ltd boosted its holdings in shares of Boyd Group Services by 155.7% during the 1st quarter. NewGen Asset Management Ltd now owns 69,800 shares of the company's stock worth $8,895,000 after buying an additional 42,500 shares during the period. Finally, Cidel Asset Management Inc. bought a new position in Boyd Group Services in the 4th quarter valued at about $9,046,000. Institutional investors and hedge funds own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BGSI. Wall Street Zen downgraded shares of Boyd Group Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Stephens lowered their target price on Boyd Group Services from $200.00 to $157.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings reissued a "sell (d)" rating on shares of Boyd Group Services in a report on Wednesday, June 24th. Finally, Zacks Research upgraded Boyd Group Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $157.00.

Boyd Group Services Stock Performance

NYSE:BGSI opened at $103.26 on Friday. Boyd Group Services Inc. has a 52 week low of $88.97 and a 52 week high of $183.10. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.58. The business's 50-day simple moving average is $100.01. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 156.46 and a beta of 0.76.

Boyd Group Services (NYSE:BGSI - Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 4.90%. Sell-side analysts anticipate that Boyd Group Services Inc. will post 3.85 EPS for the current year.

Boyd Group Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th were given a dividend of $0.156 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. Boyd Group Services's dividend payout ratio is currently 66.67%.

Boyd Group Services Company 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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