Cardinal Point Capital Management ULC Buys 63,650 Shares of Boyd Group Services Inc. $BGSI

Cardinal Point Capital Management ULC raised its stake in shares of Boyd Group Services Inc. (NYSE:BGSI) by 249.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,155 shares of the company’s stock after purchasing an additional 63,650 shares during the period. Cardinal Point Capital Management ULC owned 0.32% of Boyd Group Services worth $7,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Partners Inc. raised its stake in Boyd Group Services by 981.4% during the third quarter. Guardian Partners Inc. now owns 4,012 shares of the company’s stock valued at $316,000 after purchasing an additional 3,641 shares in the last quarter. Louisbourg Investments Inc. increased its position in shares of Boyd Group Services by 48.7% during the 3rd quarter. Louisbourg Investments Inc. now owns 101,197 shares of the company’s stock valued at $7,967,000 after purchasing an additional 33,129 shares during the last quarter. Value Partners Investments Inc. raised its holdings in Boyd Group Services by 10.2% during the 3rd quarter. Value Partners Investments Inc. now owns 11,750 shares of the company’s stock valued at $925,000 after buying an additional 1,092 shares during the period. Nykredit A S bought a new stake in Boyd Group Services in the second quarter worth $95,000. Finally, Addenda Capital Inc. boosted its stake in Boyd Group Services by 1.4% during the second quarter. Addenda Capital Inc. now owns 67,378 shares of the company’s stock worth $6,375,000 after buying an additional 961 shares during the period. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

BGSI has been the subject of several analyst reports. Weiss Ratings downgraded shares of Boyd Group Services from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 9th. Zacks Research upgraded Boyd Group Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Mizuho began coverage on shares of Boyd Group Services in a research report on Friday, September 18th. They set an “outperform” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $138.50.

Boyd Group Services Stock Down 1.5%

Shares of Boyd Group Services stock opened at $80.03 on Thursday. Boyd Group Services Inc. has a 52-week low of $75.42 and a 52-week high of $183.10. The firm’s 50 day moving average price is $83.83 and its 200-day moving average price is $98.48. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.23 billion, a P/E ratio of 28.01 and a beta of 0.72.

Boyd Group Services (NYSE:BGSI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.14). The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Group Services had a net margin of 0.25% and a return on equity of 5.21%. On average, sell-side analysts predict that Boyd Group Services Inc. will post 3.43 EPS for the current fiscal year.

Boyd Group Services Announces Dividend

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

About Boyd Group Services

Boyd Group Services Inc is a Canadian operator of non-franchised collision repair centers and related automotive service facilities. Through its operations in Canada and the United States, the company provides vehicle collision repair, auto glass repair and replacement, and related services for passenger vehicles, commercial vehicles, insurance customers and individual motorists.

In the United States, the company operates primarily under the Gerber Collision & Glass name. In Canada, its operations include locations operating under the Boyd Autobody & Glass and Assured Automotive brands, among others.