Cidel Asset Management Inc. Acquires 96,191 Shares of Boyd Group Services Inc. $BGSI

Cidel Asset Management Inc. lifted its holdings in Boyd Group Services Inc. (NYSE:BGSI) by 169.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,909 shares of the company’s stock after purchasing an additional 96,191 shares during the period. Boyd Group Services accounts for about 1.1% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Cidel Asset Management Inc. owned approximately 0.55% of Boyd Group Services worth $19,458,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. bought a new position in Boyd Group Services during the fourth quarter valued at about $59,000. Public Sector Pension Investment Board bought a new position in shares of Boyd Group Services in the 4th quarter valued at approximately $262,000. Susquehanna Portfolio Strategies LLC acquired a new stake in Boyd Group Services in the 4th quarter worth approximately $287,000. Invesco Ltd. bought a new stake in Boyd Group Services during the fourth quarter worth approximately $318,000. Finally, Deutsche Bank AG acquired a new position in Boyd Group Services during the fourth quarter valued at approximately $373,000. 0.17% of the stock is owned by institutional investors and hedge funds.

Boyd Group Services Stock Up 1.4%

Shares of NYSE BGSI opened at $90.30 on Wednesday. Boyd Group Services Inc. has a twelve month low of $88.97 and a twelve month high of $183.10. The company has a market capitalization of $2.51 billion, a PE ratio of 136.82 and a beta of 0.71. The company has a current ratio of 3.14, a quick ratio of 3.00 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average price is $108.60.

Boyd Group Services (NYSE:BGSI) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 5.54%. On average, research analysts anticipate that Boyd Group Services Inc. will post 3.85 EPS for the current fiscal year.

Boyd Group Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.156 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.7%. Boyd Group Services’s dividend payout ratio (DPR) is currently 68.18%.

Analyst Ratings Changes

Several equities analysts recently commented on BGSI shares. Stephens cut their target price on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. Wall Street Zen cut Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.00.

Boyd Group Services Company Profile

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.