Boyd Group Services (TSE:BYD) Rating Lowered to Hold at Canadian Imperial Bank of Commerce

Boyd Group Services (TSE:BYD) was downgraded by equities research analysts at Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

A number of other brokerages have also weighed in on BYD. ATB Cormark Capital Markets dropped their price objective on Boyd Group Services from C$250.00 to C$180.00 and set an “outperform” rating on the stock in a report on Thursday. Desjardins reduced their target price on Boyd Group Services from C$225.00 to C$205.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group decreased their target price on shares of Boyd Group Services from C$250.00 to C$225.00 in a research report on Thursday, August 13th. TD decreased their target price on shares of Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating on the stock in a research report on Friday, October 9th. Finally, Mizuho set a C$120.00 price target on shares of Boyd Group Services and gave the stock an “outperform” rating in a research note on Friday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$201.57.

Boyd Group Services Stock Performance

TSE BYD opened at C$106.26 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 117.12. The business’s 50 day moving average is C$116.01 and its two-hundred day moving average is C$154.63. Boyd Group Services has a 12-month low of C$105.65 and a 12-month high of C$248.23. The stock has a market capitalization of C$2.96 billion, a price-to-earnings ratio of 236.13, a PEG ratio of -56.72 and a beta of 1.20.

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

Insider Activity at Boyd Group Services

In other news, insider Jeff Murray purchased 350 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were acquired at an average price of C$111.17 per share, for a total transaction of C$38,909.50. Following the acquisition, the insider directly owned 7,700 shares in the company, valued at approximately C$856,009. The trade was a 4.76% increase in their position. 0.37% of the stock is owned by company insiders.

Top Boyd Group Services Stories

Investors following BYD have been watching these stories:

• Positive Sentiment: Valuation commentary argues that Boyd may be undervalued following its earnings-related selloff, with one analysis suggesting shares could be about 50% below fair value. This is an analyst opinion, not a company forecast. Boyd Group Could Be 50% Undervalued
• Neutral Sentiment: National Bank Financial, RBC, ATB Cormark, Desjardins and Raymond James all lowered their price targets, but retained positive ratings: outperform, buy or strong buy. Their revised targets ranged from C$175 to C$235, still well above the C$106.26 reference price cited in the reports. Read More., Read More., Read More., Read More. and Read More..
• Negative Sentiment: CIBC moved its rating to Neutral and set a C$125 price target, signaling a more cautious view than the other brokers. Broad target reductions—even where ratings remain positive—also suggest analysts have become less optimistic about near-term valuation. CIBC Downgrades Boyd Group Services

About Boyd Group Services

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 .