Cidel Asset Management Inc. Sells 85,564 Shares of Boyd Group Services Inc. $BGSI

Cidel Asset Management Inc. trimmed its stake in shares of Boyd Group Services Inc. (NYSE:BGSI) by 93.1% in the 3rd quarter, Holdings Channel reports. The firm owned 6,350 shares of the company’s stock after selling 85,564 shares during the period. Cidel Asset Management Inc.’s holdings in Boyd Group Services were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Boyd Group Services by 23.5% during the 1st quarter. Assetmark Inc. now owns 457 shares of the company’s stock valued at $58,000 after buying an additional 87 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Boyd Group Services by 2.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 7,666 shares of the company’s stock worth $975,000 after buying an additional 158 shares during the last quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd grew its holdings in shares of Boyd Group Services by 1.3% in the third quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 41,838 shares of the company’s stock worth $3,281,000 after acquiring an additional 528 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Boyd Group Services by 11.8% in the first quarter. Pictet Asset Management Holding SA now owns 5,425 shares of the company’s stock worth $690,000 after acquiring an additional 571 shares during the period. Finally, State of Wyoming purchased a new stake in Boyd Group Services during the third quarter valued at $65,000. Institutional investors own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BGSI. Mizuho assumed coverage on Boyd Group Services in a report on Friday, September 18th. They issued an “outperform” rating and a $120.00 target price on the stock. Zacks Research upgraded Boyd Group Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Boyd Group Services from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. One equities 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Boyd Group Services Price Performance

Shares of Boyd Group Services stock opened at $88.44 on Tuesday. The stock has a market cap of $2.46 billion, a P/E ratio of 192.28 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60. The stock’s fifty day moving average is $82.46 and its 200 day moving average is $114.25. Boyd Group Services Inc. has a one year low of $75.42 and a one year high of $183.10.

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

Boyd Group Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Wednesday, September 30th were paid a dividend of C$0.16 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.7%. Boyd Group Services’s payout ratio is 93.48%.

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.