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

NewGen Asset Management Ltd bought a new stake in Boyd Group Services Inc. (NYSE:BGSI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,300 shares of the company’s stock, valued at approximately $4,350,000. Boyd Group Services comprises 2.7% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 14th biggest position. NewGen Asset Management Ltd owned about 0.10% of Boyd Group Services as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BGSI. Bank of Montreal Can purchased a new position in Boyd Group Services in the fourth quarter worth approximately $209,537,000. Vanguard Group Inc. acquired a new stake in shares of Boyd Group Services during the 4th quarter worth about $187,263,000. CIBC Asset Management Inc purchased a new stake in Boyd Group Services in the 4th quarter valued at about $126,509,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Boyd Group Services in the 4th quarter valued at about $98,976,000. Finally, Picton Mahoney Asset Management acquired a new position in Boyd Group Services in the fourth quarter valued at about $81,278,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Boyd Group Services Trading Up 1.6%

BGSI opened at $97.37 on Tuesday. The business’s 50-day moving average price is $112.20. Boyd Group Services Inc. has a 12-month low of $93.59 and a 12-month high of $183.10. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 147.54 and a beta of 0.71. The company has a current ratio of 3.14, a quick ratio of 3.00 and a debt-to-equity ratio of 0.54.

Boyd Group Services (NYSE:BGSI) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.58 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that Boyd Group Services Inc. will post 3.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BGSI shares. Wall Street Zen cut shares of Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Stephens decreased their price objective on shares of Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Boyd Group Services Company Profile

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.