Boyd Group Services (TSE:BYD) Shares Down 13% – Here’s Why

Boyd Group Services Inc. (TSE:BYD) shares traded down 13% during mid-day trading on Wednesday . The stock traded as low as C$129.74 and last traded at C$132.93. 118,606 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 87,116 shares. The stock had previously closed at C$152.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce lowered their price target on Boyd Group Services from C$280.00 to C$275.00 in a research report on Tuesday, April 7th. Royal Bank Of Canada reduced their price objective on Boyd Group Services from C$294.00 to C$267.00 in a report on Thursday, March 19th. Scotiabank set a C$264.00 price objective on Boyd Group Services and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Desjardins reduced their price objective on Boyd Group Services from C$270.00 to C$260.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Raymond James Financial reduced their price objective on Boyd Group Services from C$275.00 to C$270.00 in a report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$262.17.

Boyd Group Services Price Performance

The firm has a fifty day moving average of C$183.63 and a 200 day moving average of C$210.43. The company has a market capitalization of C$3.76 billion, a P/E ratio of 164.85, a P/E/G ratio of -56.72 and a beta of 0.75. The company has a current ratio of 3.14, a quick ratio of 0.30 and a debt-to-equity ratio of 99.84.

Boyd Group Services (TSE:BYD) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.81 EPS for the quarter. The company had revenue of C$1.39 billion during the quarter. Boyd Group Services had a return on equity of 1.74% and a net margin of 0.58%. On average, equities research analysts anticipate that Boyd Group Services Inc. will post 7.1452646 EPS for the current year.

Insider Activity

In other news, insider Brian Kaner purchased 1,180 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was acquired at an average cost of C$173.43 per share, for a total transaction of C$204,647.40. Following the purchase, the insider directly owned 1,780 shares in the company, valued at C$308,705.40. This trade represents a 196.67% increase in their position. 0.37% of the stock is currently 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 .