Royal Bank of Canada Cuts Boyd Group Services (TSE:BYD) Price Target to C$280.00

Boyd Group Services (TSE:BYD) had its target price lowered by Royal Bank of Canada from C$306.00 to C$280.00 in a research report report published on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently commented on BYD. Raymond James lowered their target price on shares of Boyd Group Services from C$350.00 to C$325.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their target price on Boyd Group Services from C$295.00 to C$280.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. TD Securities decreased their price target on Boyd Group Services from C$312.00 to C$300.00 in a research note on Friday, August 9th. BMO Capital Markets dropped their price objective on shares of Boyd Group Services from C$280.00 to C$260.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, CIBC decreased their target price on shares of Boyd Group Services from C$290.00 to C$268.00 in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$288.58.

Boyd Group Services Stock Up 1.0 %

Shares of TSE:BYD opened at C$212.93 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.61 and a debt-to-equity ratio of 146.14. The company has a market capitalization of C$4.57 billion, a P/E ratio of 56.78, a P/E/G ratio of -56.72 and a beta of 0.99. Boyd Group Services has a 52-week low of C$198.61 and a 52-week high of C$324.75. The stock’s fifty day simple moving average is C$215.51 and its 200-day simple moving average is C$237.30.

Boyd Group Services (TSE:BYD) last released its earnings results on Thursday, August 8th. The company reported C$0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.82 by C($0.05). Boyd Group Services had a net margin of 1.93% and a return on equity of 7.21%. The firm had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.08 billion. As a group, equities research analysts forecast that Boyd Group Services will post 7.1452646 earnings per share for the current fiscal year.

Boyd Group Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Monday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, September 27th. Boyd Group Services’s payout ratio is currently 16.00%.

Insider Activity at Boyd Group Services

In related news, Senior Officer Jeff Murray purchased 456 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of C$223.12 per share, for a total transaction of C$101,742.72. Company insiders own 0.37% of the company’s stock.

About Boyd Group Services

Boyd Group Services Inc, together with its subsidiaries, operates non-franchised collision repair centers in North America. The company operates its locations under the Boyd Autobody & Glass and Assured Automotive names in Canada; and Gerber Collision & Glass name in the United States. It also operates as a retail auto glass operator under the Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority, and Autoglassonly.com names in the United States.