Stephens Lowers Boyd Group Services (NYSE:BGSI) Price Target to $157.00

Key Points

• Stephens cut its price target for Boyd Group Services from $200 to $157 while maintaining an overweight rating, a target that implies roughly a 26.95% upside from the current price.
• In the latest quarter Boyd reported EPS of $0.90 (beating the $0.63 estimate) but revenue of $793.85 million missed the $821.73 million forecast; shares opened at $123.67 and sit in a 52-week range of $115.40–$183.10.
• Analyst views are mixed—Weiss Ratings started coverage with a "sell," Scotiabank rates it "strong-buy," Wall Street Zen upgraded to "buy"—and MarketBeat shows a consensus rating of Moderate Buy with a $157 consensus price target.

Boyd Group Services (NYSE:BGSI - Get Free Report) had its target price dropped by Stephens from $200.00 to $157.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Stephens' target price points to a potential upside of 26.95% from the stock's current price.

BGSI has been the topic of a number of other research reports. Weiss Ratings started coverage on shares of Boyd Group Services in a report on Thursday, January 15th. They set a "sell (d+)" rating on the stock. Scotiabank upgraded shares of Boyd Group Services to a "strong-buy" rating in a report on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of Boyd Group Services from a "hold" rating to a "buy" rating in a report on Sunday, March 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

Boyd Group Services Stock Up 5.7%

Shares of NYSE BGSI opened at $123.67 on Tuesday. Boyd Group Services has a fifty-two week low of $115.40 and a fifty-two week high of $183.10. The firm's 50 day simple moving average is $153.88. The company has a market capitalization of $3.44 billion, a P/E ratio of 151.44 and a beta of 0.96.

Boyd Group Services (NYSE:BGSI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.27. Boyd Group Services had a net margin of 0.59% and a return on equity of 5.89%. The firm had revenue of $793.85 million for the quarter, compared to analysts' expectations of $821.73 million.

Institutional Investors Weigh In On Boyd Group Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cidel Asset Management Inc. bought a new position in Boyd Group Services in the fourth quarter worth approximately $9,046,000. Addenda Capital Inc. purchased a new position in shares of Boyd Group Services during the 4th quarter worth $10,843,000. Louisbourg Investments Inc. purchased a new position in shares of Boyd Group Services during the 4th quarter worth $7,272,000. CenterBook Partners LP purchased a new position in shares of Boyd Group Services during the 4th quarter worth $3,369,000. Finally, Claret Asset Management Corp purchased a new position in shares of Boyd Group Services during the 4th quarter worth $2,857,000. Hedge funds and other institutional investors own 0.17% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.