Boyd Group Services (TSE:BYD) Shares Cross Below Fifty Day Moving Average – What’s Next?

Boyd Group Services Inc. (TSE:BYD) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$116.25 and traded as low as C$108.37. Boyd Group Services shares last traded at C$109.70, with a volume of 575,418 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BYD. TD decreased their target price on shares of Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating for the company in a research report on Friday, October 9th. Jefferies Financial Group lowered their target price on shares of Boyd Group Services from C$250.00 to C$225.00 in a report on Thursday, August 13th. Scotiabank dropped 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 research report on Thursday, August 13th. BMO Capital Markets cut their price target on Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Boyd Group Services from C$205.00 to C$208.00 in a research note on Thursday, August 13th. Two 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 Price Performance

The firm has a market cap of C$3.05 billion, a P/E ratio of 243.78, a P/E/G ratio of -56.72 and a beta of 1.20. The company has a fifty day moving average of C$116.25 and a 200-day moving average of C$155.24. 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) last issued its quarterly earnings data on Wednesday, November 11th. The company reported C$0.97 earnings per share for the quarter. The business 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%. On average, sell-side analysts anticipate that Boyd Group Services Inc. will post 7.15 EPS for the current fiscal year.

Insider Activity at Boyd Group Services

In other news, insider Jeff Murray purchased 350 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were 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 trade represents a 4.76% increase in their ownership of the stock. 0.37% of the stock is currently owned by corporate insiders.

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 .