Boyd Group Services (TSE:BYD) Hits New 12-Month Low - Time to Sell?

Key Points

• Boyd Group Services hit a 52-week low, trading as low as C$105.75 and last at C$106.50, down from its previous close of C$109.70.
• Third-quarter revenue rose 28% year over year to C$1.44 billion; the company reported EPS of C$0.97.
• Analysts maintain a consensus Buy rating and C$219.50 average price target, although several firms have recently lowered their targets.

Shares of Boyd Group Services Inc. (TSE:BYD - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as C$105.75 and last traded at C$106.50, with a volume of 38,347 shares trading hands. The stock had previously closed at C$109.70.

Recent Boyd Group Services Headlines

Investors following BYD have been watching these headlines:

• Positive Sentiment: Third-quarter sales increased 28% year over year, reaching C$1.44 billion. This growth may support the investment case, though the supplied reports do not provide an earnings-estimate comparison. Boyd Group reports Q3 sales up 28 per cent from year ago
• Positive Sentiment: A Yahoo Finance article argues that BYD could be about 50% undervalued following its earnings-related selloff. This is a bullish valuation view, rather than a company announcement. Boyd Group Services Could Be 50% Undervalued On Its Earnings Selloff
• Negative Sentiment: RBC lowered its price target to C$193. Although that target remains well above the recent share price, a reduction in expectations adds to the cautious analyst tone. Boyd Group Price Target Lowered to CA$193 at RBC

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD lowered their price target on Boyd Group Services from C$200.00 to C$175.00 and set a "top pick" rating on the stock in a research report on Friday, October 9th. Canadian Imperial Bank of Commerce boosted their price objective on Boyd Group Services from C$205.00 to C$208.00 in a research report on Thursday, August 13th. BMO Capital Markets cut their price objective on Boyd Group Services from C$200.00 to C$190.00 in a research report on Thursday, August 13th. Desjardins decreased their target price on Boyd Group Services from C$240.00 to C$225.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada lowered their target price on Boyd Group Services from C$236.00 to C$224.00 and set an "outperform" rating on the stock in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of C$219.50.

Boyd Group Services Trading Down 2.8%

The stock has a market capitalization of C$2.97 billion, a price-to-earnings ratio of 236.87, a PEG ratio of -56.72 and a beta of 1.20. The company's 50 day moving average is C$116.25 and its 200 day moving average is C$155.24. The company has a debt-to-equity ratio of 117.12, a quick ratio of 0.30 and a current ratio of 0.58.

Boyd Group Services (TSE:BYD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 11th. The company reported C$0.97 earnings per share (EPS) for the quarter. Boyd Group Services had a net margin of 0.26% and a return on equity of 0.61%. The company had revenue of C$1.44 billion for the quarter. On average, research analysts forecast that Boyd Group Services Inc. will post 7.15 EPS for the current fiscal year.

Insider Activity at Boyd Group Services

In related news, insider Jeff Murray bought 350 shares of Boyd Group Services stock in a transaction that occurred on Monday, September 28th. The stock was acquired at an average price of C$111.17 per share, for a total transaction of C$38,909.50. Following the completion of the purchase, the insider owned 7,700 shares in the company, valued at approximately C$856,009. This represents a 4.76% increase in their ownership of the stock. Corporate insiders own 0.37% of the company's stock.

Boyd Group Services Company Profile

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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