Boyd Group Services Inc. $BGSI Stake Lifted by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC increased its position in shares of Boyd Group Services Inc. (NYSE:BGSI) by 249.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 89,155 shares of the company’s stock after buying an additional 63,650 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Boyd Group Services were worth $7,019,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Guardian Partners Inc. boosted its position in Boyd Group Services by 981.4% during the third quarter. Guardian Partners Inc. now owns 4,012 shares of the company’s stock worth $316,000 after purchasing an additional 3,641 shares in the last quarter. Louisbourg Investments Inc. raised 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 worth $7,967,000 after purchasing an additional 33,129 shares during the last quarter. Value Partners Investments Inc. boosted its holdings in Boyd Group Services by 10.2% in the 3rd quarter. Value Partners Investments Inc. now owns 11,750 shares of the company’s stock worth $925,000 after buying an additional 1,092 shares during the last quarter. Nykredit A S purchased a new stake in Boyd Group Services during the 2nd quarter worth approximately $95,000. Finally, Addenda Capital Inc. boosted its stake in shares of Boyd Group Services by 1.4% in the second quarter. Addenda Capital Inc. now owns 67,378 shares of the company’s stock worth $6,375,000 after acquiring an additional 961 shares during the last quarter. Institutional investors and hedge funds own 0.17% of the company’s stock.

Analysts Set New Price Targets

BGSI has been the subject of a number of recent research reports. Weiss Ratings cut shares of Boyd Group Services from a “sell (d+)” rating to a “sell (d)” rating in a research report 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 initiated coverage on Boyd Group Services in a report on Friday, September 18th. They issued an “outperform” rating and a $120.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.50.

Boyd Group Services Trading Down 1.5%

Shares of BGSI stock opened at $80.03 on Thursday. Boyd Group Services Inc. has a 1-year low of $75.42 and a 1-year high of $183.10. The firm has a market cap of $2.23 billion, a PE ratio of 28.01 and a beta of 0.72. The company has a 50-day moving average of $83.83 and a two-hundred day moving average of $98.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.60 and a quick ratio of 0.46.

Boyd Group Services (NYSE:BGSI) last posted its earnings results on Wednesday, August 12th. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.14). Boyd Group Services had a net margin of 0.25% and a return on equity of 5.21%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, analysts predict that Boyd Group Services Inc. will post 3.43 EPS for the current year.

Boyd Group Services Dividend Announcement

The firm 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 C$0.16 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.62 annualized dividend and a dividend yield of 0.8%. Boyd Group Services’s payout ratio is 95.65%.

Boyd Group Services Company Profile

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.