BCV Asset Management Inc. Makes New Investment in Boyd Group Services Inc. $BGSI

BCV Asset Management Inc. purchased a new position in Boyd Group Services Inc. (NYSE:BGSI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 505,863 shares of the company’s stock, valued at approximately $39,970,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of Boyd Group Services by 5.7% during the first quarter. Principal Financial Group Inc. now owns 413,018 shares of the company’s stock valued at $52,654,000 after purchasing an additional 22,448 shares in the last quarter. Caisse de depot et placement du Quebec bought a new position in Boyd Group Services during the 2nd quarter valued at about $38,300,000. Jupiter Topco LLC bought a new position in Boyd Group Services during the 2nd quarter valued at about $15,591,000. The Manufacturers Life Insurance Company bought a new position in Boyd Group Services during the 2nd quarter valued at about $14,334,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Boyd Group Services by 18.2% during the 1st quarter. Janus Henderson Group PLC now owns 133,564 shares of the company’s stock valued at $17,015,000 after acquiring an additional 20,596 shares during the last quarter. 0.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BGSI has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Boyd Group Services from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 29th. Mizuho lowered their price objective on shares of Boyd Group Services from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday. Zacks Research upgraded shares of Boyd Group Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce cut shares of Boyd Group Services from a “strong-buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Boyd Group Services presently has a consensus rating of “Moderate Buy” and an average target price of $136.00.

Boyd Group Services Stock Up 0.3%

BGSI stock opened at $74.68 on Friday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 25.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60. The business’s 50-day moving average is $82.16 and its two-hundred day moving average is $111.16. Boyd Group Services Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $183.10.

Boyd Group Services (NYSE:BGSI) last released its quarterly earnings results on Wednesday, November 11th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.24). Boyd Group Services had a negative net margin of 0.05% and a positive return on equity of 4.66%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, analysts forecast that Boyd Group Services Inc. will post 3.38 earnings per share for the current year.

Boyd Group Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th were issued a dividend of C$0.16 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.62 annualized dividend and a yield of 0.8%. Boyd Group Services’s payout ratio is currently 95.65%.

About Boyd Group Services

Boyd Group Services Inc. operates collision repair and automotive glass businesses in the United States and Canada. Its services include vehicle collision repairs, paint and refinishing, auto glass repair and replacement, and related services. The company serves customers through brands including Gerber Collision & Glass in the United States and Boyd Autobody & Glass in Canada. Its repair centers work with vehicle owners, insurers and fleet operators. Boyd Group traces its roots to an auto body repair business established in Winnipeg, Manitoba, in 1990.