Boyd Group Services (TSE:BYD) Stock Falls 11.7% - Here's Why

Key Points

• Boyd Group Services shares fell 11.7% to C$110.40 in mid-day trading, with volume up 215% from its average.
• Several analysts lowered their price targets, including Desjardins, Scotiabank, Jefferies and RBC; however, the consensus rating remains Buy, with an average target of C$219.50.
• Insider Jeff Murray bought 350 shares at an average C$111.17, increasing his holding by 4.76%.

Boyd Group Services Inc. (TSE:BYD - Get Free Report) shares traded down 11.7% during mid-day trading on Wednesday. The stock traded as low as C$108.37 and last traded at C$110.40. Approximately 324,701 shares were traded during mid-day trading, an increase of 215% from the average daily volume of 103,180 shares. The stock had previously closed at C$124.97.

Analyst Ratings Changes

Several equities analysts have recently commented on BYD shares. Desjardins decreased their price objective on shares of Boyd Group Services from C$240.00 to C$225.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Scotiabank decreased their price target on shares of Boyd Group Services from C$219.00 to C$210.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 13th. Jefferies Financial Group dropped their price objective on Boyd Group Services from C$250.00 to C$225.00 in a report on Thursday, August 13th. Mizuho set a C$120.00 price target on shares of Boyd Group Services and gave the stock an "outperform" rating in a research note on Friday, September 18th. Finally, Royal Bank Of Canada decreased their price objective on Boyd Group Services from C$236.00 to C$224.00 and set an "outperform" rating for the company in a report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$219.50.

Boyd Group Services Price Performance

The company's 50 day moving average is C$116.35 and its 200 day moving average is C$155.81. The stock has a market cap of C$3.06 billion, a price-to-earnings ratio of 244.67, a PEG ratio of -56.72 and a beta of 1.20. The company has a debt-to-equity ratio of 117.12, a current ratio of 0.58 and a quick ratio of 0.30.

Boyd Group Services (TSE:BYD - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$1.14 earnings per share for the quarter. The firm had revenue of C$1.44 billion during the quarter. Boyd Group Services had a return on equity of 0.61% and a net margin of 0.26%. Research analysts forecast that Boyd Group Services Inc. will post 7.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeff Murray acquired 350 shares of the company's stock in a transaction dated Monday, September 28th. The stock was bought at an average price of C$111.17 per share, with a total value of C$38,909.50. Following the purchase, the insider directly owned 7,700 shares in the company, valued at C$856,009. The trade was a 4.76% increase in their position. 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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