Cidel Asset Management Inc. Buys 96,191 Shares of Boyd Group Services Inc. $BGSI

Cidel Asset Management Inc. lifted its stake in shares of Boyd Group Services Inc. (NYSE:BGSI) by 169.6% in the 1st quarter, Holdings Channel reports. The fund owned 152,909 shares of the company’s stock after acquiring an additional 96,191 shares during the quarter. Boyd Group Services accounts for approximately 1.1% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 29th biggest position. Cidel Asset Management Inc.’s holdings in Boyd Group Services were worth $19,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. bought a new stake in Boyd Group Services in the 4th quarter valued at $59,000. Public Sector Pension Investment Board bought a new position in Boyd Group Services during the 4th quarter worth about $262,000. Susquehanna Portfolio Strategies LLC acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $287,000. Invesco Ltd. acquired a new stake in shares of Boyd Group Services in the 4th quarter valued at about $318,000. Finally, Deutsche Bank AG bought a new stake in shares of Boyd Group Services in the fourth quarter valued at about $373,000. 0.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BGSI has been the subject of several recent research reports. Stephens reduced their price objective on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Wall Street Zen downgraded Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Boyd Group Services Price Performance

Shares of NYSE:BGSI opened at $90.30 on Wednesday. The business’s 50-day simple moving average is $108.60. The company has a quick ratio of 3.00, a current ratio of 3.14 and a debt-to-equity ratio of 0.54. Boyd Group Services Inc. has a one year low of $88.97 and a one year high of $183.10. The company has a market cap of $2.51 billion, a PE ratio of 136.82 and a beta of 0.71.

Boyd Group Services (NYSE:BGSI) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 5.54%. On average, analysts anticipate that Boyd Group Services Inc. will post 3.85 earnings per share for the current fiscal year.

Boyd Group Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th will be given a dividend of $0.156 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.62 annualized dividend and a yield of 0.7%. Boyd Group Services’s dividend payout ratio is 68.18%.

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.