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

Canadian Imperial Bank of Commerce downgraded shares of Boyd Group Services (TSE:BYD) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks reports.

Other analysts also recently issued research reports about the company. ATB Cormark Capital Markets reduced their price objective on Boyd Group Services from C$250.00 to C$180.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho set a C$120.00 price objective on Boyd Group Services and gave the stock an “outperform” rating in a report on Friday, September 18th. National Bank Financial lowered their price objective on Boyd Group Services from C$270.00 to C$175.00 and set an “outperform” rating on the stock in a research report on Thursday. TD cut their target price on Boyd Group Services from C$200.00 to C$175.00 and set a “top pick” rating for the company in a research note on Friday, October 9th. Finally, Desjardins cut 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 research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$201.57.

Boyd Group Services Stock Down 3.1%

TSE BYD opened at C$106.26 on Thursday. The company has a debt-to-equity ratio of 117.12, a quick ratio of 0.30 and a current ratio of 0.58. The firm has a 50-day simple moving average of C$116.01 and a 200 day simple moving average of C$154.63. Boyd Group Services has a twelve month low of C$105.65 and a twelve month high of C$248.23. The stock has a market cap of C$2.96 billion, a PE ratio of 236.13, a PEG ratio of -56.72 and a beta of 1.20.

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

Insiders Place Their Bets

In other Boyd Group Services news, insider Jeff Murray bought 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, with a total value of C$38,909.50. Following the completion of the purchase, the insider directly owned 7,700 shares in the company, valued at C$856,009. The trade was a 4.76% increase in their position. 0.37% of the stock is currently owned by insiders.

Trending Headlines about Boyd Group Services

Here are a few of the latest headlines about BYD:

• Positive Sentiment: Third-quarter sales rose 28.2% to $1.01 billion. Boyd reported quarterly EPS of C$0.97 and revenue of C$1.44 billion. The growth supports the view that demand is holding up. Boyd Group Third Quarter Sales Rise 28.2%
• 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
• 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

Boyd Group Services Company Profile

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 .