Boyd Group Services (TSE:BYD) Stock Price Up 5.3% - Still a Buy?

Key Points

• Boyd Group Services shares rose 5.3% to C$123.52, with trading volume 49% above average.
• Analysts remain broadly positive, with an overall “Buy” rating and a consensus price target of C$219.50, despite several firms lowering their targets.
• The company reported quarterly EPS of C$1.14 and revenue of C$1.44 billion, but its valuation and balance sheet appear stretched, including a P/E ratio of 274.49 and debt-to-equity ratio of 117.12.

Boyd Group Services Inc. (TSE:BYD - Get Free Report)'s share price traded up 5.3% during trading on Monday. The stock traded as high as C$126.77 and last traded at C$123.52. Approximately 151,464 shares changed hands during trading, an increase of 49% from the average daily volume of 101,968 shares. The stock had previously closed at C$117.26.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank reduced their target price on 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. Canadian Imperial Bank of Commerce increased their price target on Boyd Group Services from C$205.00 to C$208.00 in a report on Thursday, August 13th. Jefferies Financial Group dropped their price target on Boyd Group Services from C$250.00 to C$225.00 in a research report on Thursday, August 13th. Royal Bank Of Canada dropped their price target on Boyd Group Services from C$236.00 to C$224.00 and set an "outperform" rating on the stock in a research report on Monday, September 14th. Finally, Desjardins cut their price objective on 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. Two analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$219.50.

Boyd Group Services Price Performance

The company's 50-day moving average price is C$115.68 and its 200-day moving average price is C$158.80. The company has a debt-to-equity ratio of 117.12, a current ratio of 0.58 and a quick ratio of 0.30. The company has a market cap of C$3.44 billion, a P/E ratio of 274.49, a P/E/G ratio of -56.72 and a beta of 1.10.

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

Insider Buying and Selling at Boyd Group Services

In other news, insider Jeff Murray acquired 350 shares of Boyd Group Services stock in a transaction dated Monday, September 28th. The stock was bought at an average cost of C$111.17 per share, with a total value of C$38,909.50. Following the completion of the transaction, the insider directly owned 7,700 shares of the company's stock, valued at approximately C$856,009. This represents a 4.76% increase in their ownership of the stock. 0.37% of the stock is owned by corporate insiders.

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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