Boyd Group Services (TSE:BYD) Shares Down 11.7% – What’s Next?

Boyd Group Services Inc. (TSE:BYD) fell 11.7% on Wednesday. The stock traded as low as C$108.37 and last traded at C$110.40. 324,701 shares changed hands during mid-day trading, an increase of 215% from the average daily volume of 103,180 shares. The stock had previously closed at C$124.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets lowered their target price on Boyd Group Services from C$200.00 to C$190.00 in a research note on Thursday, August 13th. Mizuho set a C$120.00 price target on Boyd Group Services and gave the stock an “outperform” rating in a report on Friday, September 18th. Scotiabank decreased their price target on Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating for the company in a report on Thursday, August 13th. National Bank Financial increased their price objective on shares of Boyd Group Services from C$265.00 to C$270.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Finally, TD dropped their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$219.50.

Boyd Group Services Price Performance

The company has a debt-to-equity ratio of 117.12, a quick ratio of 0.30 and a current ratio of 0.58. The business’s fifty day simple moving average is C$116.35 and its 200 day simple moving average is C$155.81. The stock has a market cap of C$3.06 billion, a price-to-earnings ratio of 244.67, a price-to-earnings-growth ratio of -56.72 and a beta of 1.20.

Boyd Group Services (TSE:BYD) last announced its earnings results on Wednesday, August 12th. The company reported C$1.14 earnings per share for the quarter. Boyd Group Services had a return on equity of 0.61% and a net margin of 0.26%. The company had revenue of C$1.44 billion during the quarter. Research analysts predict that Boyd Group Services Inc. will post 7.15 EPS for the current fiscal year.

Insider Activity at Boyd Group Services

In other Boyd Group Services news, insider Jeff Murray purchased 350 shares of Boyd Group Services stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average price 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 approximately C$856,009. This trade represents a 4.76% increase in their position. Company insiders own 0.37% of the company’s stock.

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 .