Royal Bank Of Canada Issues Pessimistic Forecast for Boyd Group Services (TSE:BYD) Stock Price

Boyd Group Services (TSE:BYD) had its price objective cut by investment analysts at Royal Bank Of Canada from C$224.00 to C$193.00 in a report issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 81.12% from the stock’s current price.

BYD has been the subject of several other research reports. Scotiabank decreased their price objective 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. BMO Capital Markets dropped their target price on Boyd Group Services from C$200.00 to C$190.00 in a report on Thursday, August 13th. Mizuho set a C$120.00 target price on Boyd Group Services and gave the stock an “outperform” rating in a report on Friday, September 18th. TD reduced their price target on Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating for the company in a research report on Friday, October 9th. Finally, National Bank Financial raised their price target on Boyd Group Services from C$265.00 to C$270.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat, Boyd Group Services has a consensus rating of “Buy” and a consensus price target of C$201.57.

Boyd Group Services Stock Down 2.9%

Boyd Group Services stock traded down C$3.14 during mid-day trading on Thursday, reaching C$106.56. The company’s stock had a trading volume of 255,266 shares, compared to its average volume of 105,065. The company has a market capitalization of C$2.97 billion, a price-to-earnings ratio of 236.80, a price-to-earnings-growth ratio of -56.72 and a beta of 1.20. Boyd Group Services has a 12 month low of C$105.75 and a 12 month high of C$248.23. The business’s 50 day simple moving average is C$116.25 and its 200 day simple moving average is C$155.24. The company has a debt-to-equity ratio of 117.12, a quick ratio of 0.30 and a current ratio of 0.58.

Boyd Group Services (TSE:BYD) last issued its quarterly earnings results on Wednesday, November 11th. The company reported C$0.97 earnings per share (EPS) for the quarter. Boyd Group Services had a net margin of 0.26% and a return on equity of 0.61%. The firm had revenue of C$1.44 billion for the quarter. As a group, research analysts anticipate that Boyd Group Services will post 7.15 earnings per share for the current year.

Insider Buying and Selling at Boyd Group Services

In related news, insider Jeff Murray bought 350 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was bought at an average price of C$111.17 per share, for a total transaction of C$38,909.50. Following the purchase, the insider owned 7,700 shares in the company, valued at C$856,009. This represents a 4.76% increase in their position. 0.37% of the stock is owned by insiders.

Latest Boyd Group Services News

These are some of the BYD news items that stood out recently:

• Positive Sentiment: Third-quarter sales rose 28% from a year earlier to C$1.44 billion, indicating continued revenue growth. Boyd Group reports Q3 sales up 28 per cent from year ago
• Neutral Sentiment: Boyd reported Q3 earnings of C$0.97 per share and revenue of C$1.44 billion. The figures provide context for the selloff, but the supplied reports do not give comparisons with analyst expectations. Boyd Group Services Reports Third-Quarter and Nine-Month Results
• Negative Sentiment: CIBC downgraded Boyd to Neutral with a C$125 price target, a cautious signal for investors. CIBC Downgrades Boyd Group Services to Neutral

Boyd Group Services Company Profile

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 .