Boyd Group Services Inc. $BGSI is NewGen Asset Management Ltd’s 7th Largest Position

NewGen Asset Management Ltd grew its stake in shares of Boyd Group Services Inc. (NYSE:BGSI) by 155.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,800 shares of the company’s stock after buying an additional 42,500 shares during the quarter. Boyd Group Services accounts for approximately 3.4% of NewGen Asset Management Ltd’s portfolio, making the stock its 7th largest holding. NewGen Asset Management Ltd owned about 0.25% of Boyd Group Services worth $8,895,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $62,264,000. Van Berkom & Associates Inc. purchased a new position in Boyd Group Services during the 4th quarter valued at about $5,010,000. TD Waterhouse Canada Inc. bought a new position in Boyd Group Services during the 4th quarter valued at approximately $2,845,000. Cidel Asset Management Inc. bought a new position in Boyd Group Services during the 4th quarter valued at approximately $9,046,000. Finally, Intact Investment Management Inc. purchased a new stake in Boyd Group Services in the 4th quarter worth approximately $25,769,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stephens cut their price objective on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. 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. Zacks Research downgraded shares of Boyd Group Services from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Boyd Group Services in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Boyd Group Services presently has an average rating of “Hold” and an average target price of $157.00.

Boyd Group Services Stock Down 0.6%

Shares of BGSI stock opened at $103.45 on Tuesday. The stock has a market capitalization of $2.88 billion, a PE ratio of 156.75 and a beta of 0.76. The business has a fifty day moving average price of $99.97. Boyd Group Services Inc. has a twelve month low of $88.97 and a twelve month high of $183.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60.

Boyd Group Services (NYSE:BGSI) last announced 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 return on equity of 4.90% and a net margin of 0.39%. Equities research analysts expect that Boyd Group Services Inc. will post 3.85 earnings per share for the current fiscal year.

Boyd Group Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th will be given a dividend of $0.156 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Boyd Group Services’s dividend payout ratio (DPR) is 66.67%.

About Boyd Group Services

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.