ATB Cormark Capital Markets Issues Pessimistic Forecast for Boyd Group Services (TSE:BYD) Stock Price

Boyd Group Services (TSE:BYD) had its target price reduced by ATB Cormark Capital Markets from C$250.00 to C$180.00 in a research note issued to investors on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s price objective would indicate a potential upside of 68.92% from the company’s previous close.

Other research analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce raised their target price on shares of Boyd Group Services from C$205.00 to C$208.00 in a report 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. TD dropped their target price on shares of Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating on the stock in a research note on Friday, October 9th. Raymond James Financial decreased their price objective on Boyd Group Services from C$240.00 to C$235.00 and set a “strong-buy” rating for the company in a report on Thursday. Finally, Mizuho set a C$120.00 price objective on shares of Boyd Group Services and gave the stock an “outperform” rating in a research note on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$201.57.

Boyd Group Services Stock Performance

TSE:BYD traded down C$3.14 during trading hours on Thursday, reaching C$106.56. The company had a trading volume of 255,266 shares, compared to its average volume of 105,065. The firm has a market cap of C$2.97 billion, a price-to-earnings ratio of 236.80, a PEG ratio of -56.72 and a beta of 1.20. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12. The firm’s 50 day moving average price is C$116.25 and its 200-day moving average price is C$155.24. Boyd Group Services has a 52 week low of C$105.75 and a 52 week high of C$248.23.

Boyd Group Services (TSE:BYD) last released its quarterly earnings results 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 net margin of 0.26% and a return on equity of 0.61%. On average, analysts forecast that Boyd Group Services will post 7.15 EPS for the current year.

Insider Transactions at Boyd Group Services

In related news, insider Jeff Murray purchased 350 shares of the firm’s stock in a transaction on 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 acquisition, the insider owned 7,700 shares of the company’s stock, valued at C$856,009. The trade was a 4.76% increase in their position. Insiders own 0.37% of the company’s stock.

Key Headlines Impacting Boyd Group Services

These are some of the BYD headlines that stood out recently:

• Positive Sentiment: Third-quarter sales rose 28% from a year earlier to C$1.44 billion, indicating continued revenue growth. Boyd Group reports Q3 sales up 28 per cent from year ago
• Positive Sentiment: A Yahoo Finance analysis says Boyd could be about 50% undervalued following its earnings-related selloff, offering a bullish valuation argument. Boyd Group Services Could Be 50% Undervalued On Its Earnings Selloff
• Negative Sentiment: RBC lowered its price target to C$193, suggesting a more conservative outlook even though the revised target remains above the price in the supplied trading data. Boyd Group Price Target Lowered to CA$193 at RBC

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 .