Cidel Asset Management Inc. Decreases Stake in Boyd Group Services Inc. $BGSI

Key Points

• Cidel Asset Management cut its Boyd Group Services stake by 39.9% in the second quarter, selling 60,995 shares and retaining 91,914 shares worth approximately $8.7 million.
• Analyst sentiment remains mixed, though the stock has a consensus rating of “Moderate Buy” and a $157 price target. Zacks upgraded the shares to “hold,” while Weiss Ratings maintained a “sell” rating.
• Boyd Group Services reported quarterly EPS of $0.80, below the $0.94 consensus estimate, while revenue of $1.01 billion also slightly missed expectations. Shares opened at $87.12, down 3.7%, and the company maintains a quarterly dividend of $0.156 per share.

Cidel Asset Management Inc. reduced its holdings in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 39.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,914 shares of the company's stock after selling 60,995 shares during the quarter. Cidel Asset Management Inc. owned 0.33% of Boyd Group Services worth $8,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BGSI. FIL Ltd purchased a new stake in shares of Boyd Group Services during the 4th quarter valued at about $411,269,000. Mackenzie Financial Corp purchased a new position in shares of Boyd Group Services during the fourth quarter valued at approximately $327,955,000. Bank of Montreal Can bought a new position in Boyd Group Services during the fourth quarter valued at approximately $209,537,000. Royal Bank of Canada bought a new position in Boyd Group Services during the fourth quarter valued at approximately $204,276,000. Finally, CIBC Asset Management Inc purchased a new stake in Boyd Group Services in the fourth quarter worth approximately $126,509,000. 0.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Boyd Group Services in a research report on Wednesday, June 24th. Zacks Research upgraded Boyd Group Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

Boyd Group Services Trading Down 3.7%

Shares of Boyd Group Services stock opened at $87.12 on Wednesday. Boyd Group Services Inc. has a 1-year low of $82.26 and a 1-year high of $183.10. The company's fifty day simple moving average is $96.88 and its 200-day simple moving average is $114.46. 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 stock has a market capitalization of $2.43 billion, a PE ratio of 189.41 and a beta of 0.70.

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

Boyd Group Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.156 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.62 dividend on an annualized basis and a yield of 0.7%. Boyd Group Services's dividend payout ratio (DPR) is presently 93.48%.

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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