The Manufacturers Life Insurance Company Reduces Position in Boyd Group Services Inc. $BGSI

Key Points

• The Manufacturers Life Insurance Company reduced its Boyd Group Services stake by 3.9% in the first quarter, selling 10,511 shares and retaining 262,456 shares valued at approximately $33.5 million.
• Analyst sentiment is mixed: recent ratings ranged from “strong sell” to “strong buy,” while the consensus rating remained “Moderate Buy” with an average price target of $157.
• Boyd Group Services reported quarterly EPS of $0.58, slightly above estimates, and declared a quarterly dividend of $0.156, representing a 0.6% annualized yield.

The Manufacturers Life Insurance Company lessened its holdings in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,456 shares of the company's stock after selling 10,511 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.94% of Boyd Group Services worth $33,475,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BGSI. Louisbourg Investments Inc. bought a new stake in shares of Boyd Group Services in the fourth quarter valued at approximately $7,272,000. Cidel Asset Management Inc. bought a new position in Boyd Group Services in the 4th quarter worth approximately $9,046,000. Addenda Capital Inc. purchased a new position in Boyd Group Services in the 4th quarter valued at approximately $10,843,000. Massachusetts Financial Services Co. MA purchased a new position in Boyd Group Services in the 4th quarter valued at approximately $29,216,000. Finally, Assetmark Inc. purchased a new position in Boyd Group Services in the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

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

Boyd Group Services Trading Up 0.2%

BGSI stock opened at $103.55 on Friday. The company has a 50 day moving average price of $99.91. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 156.90 and a beta of 0.76. Boyd Group Services Inc. has a 12 month low of $88.97 and a 12 month high of $183.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.60 and a quick ratio of 0.46.

Boyd Group Services (NYSE:BGSI - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share 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 predict that Boyd Group Services Inc. will post 3.85 EPS for the current year.

Boyd Group Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Tuesday, June 30th were issued a $0.156 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.62 annualized dividend and a dividend yield of 0.6%. Boyd Group Services's dividend payout ratio is presently 66.67%.

About Boyd Group Services

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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