Boyd Group Services (TSE:BYD) Hits New 1-Year Low - Here's What Happened

Key Points

• Boyd Group Services shares hit a new 52-week low, falling to C$107.87 before last trading at C$109.61, down 2.2% from the prior close.
• Despite the decline, analysts maintained a consensus “Buy” rating with an average price target of C$221.29, although several firms recently lowered their targets.
• Insider Jeff Murray purchased 350 shares worth approximately C$38,910, increasing his holdings by 4.76%; the company’s latest quarter included C$1.14 in EPS and C$1.44 billion in revenue.

Boyd Group Services Inc. (TSE:BYD - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday. The stock traded as low as C$107.87 and last traded at C$109.61, with a volume of 103874 shares changing hands. The stock had previously closed at C$112.05.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BYD shares. ATB Cormark Capital Markets lifted their price objective on Boyd Group Services from C$245.00 to C$250.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. BMO Capital Markets dropped their price objective on shares of Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday, August 13th. Royal Bank Of Canada decreased their target price on shares of Boyd Group Services from C$236.00 to C$224.00 and set an "outperform" rating for the company in a research note on Monday, September 14th. Scotiabank lowered their price target on shares of Boyd Group Services from C$219.00 to C$210.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$221.29.

Boyd Group Services Stock Down 2.2%

The company has a market cap of C$3.05 billion, a PE ratio of 243.58, a P/E/G ratio of -56.72 and a beta of 1.10. The business has a 50-day simple moving average of C$124.68 and a 200-day simple moving average of C$142.75. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 117.12.

Boyd Group Services (TSE:BYD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$1.14 EPS for the quarter. The company had revenue of C$1.44 billion for the quarter. Boyd Group Services had a return on equity of 0.61% and a net margin of 0.26%. Equities research analysts anticipate that Boyd Group Services Inc. will post 7.1452646 EPS for the current year.

Insider Transactions at Boyd Group Services

In related news, insider Jeff Murray purchased 350 shares of the company's stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average price of C$111.17 per share, with a total value of C$38,909.50. Following the purchase, the insider owned 7,700 shares of the company's stock, valued at C$856,009. The trade was a 4.76% increase in their ownership of the stock. Corporate insiders own 0.37% of the company's stock.

About Boyd Group Services

Boyd Group Services Inc is a Canadian corporation and controls The Boyd Group Inc and its subsidiaries. Boyd Group Services Inc shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc or Boyd Group Services Inc, please visit our website at https://www.boydgroup.com .

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