Boyd Group Income Fund (TSE:BYD.UN) Receives Average Rating of “Buy” from Brokerages

Boyd Group Income Fund (TSE:BYD.UN) has received a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$200.44.

Several research analysts recently weighed in on the company. AltaCorp Capital downgraded Boyd Group Income Fund from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$190.00 to C$200.00 in a research note on Thursday, November 14th. Raymond James reiterated an “outperform” rating and issued a C$215.00 price target on shares of Boyd Group Income Fund in a research note on Thursday, November 14th. TD Securities upped their price objective on shares of Boyd Group Income Fund from C$200.00 to C$215.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Cormark set a C$200.00 price objective on shares of Boyd Group Income Fund in a research report on Thursday, September 19th. Finally, Desjardins lifted their target price on shares of Boyd Group Income Fund from C$190.00 to C$195.00 and gave the stock a “hold” rating in a research note on Friday, August 16th.

Shares of BYD.UN traded down C$0.49 during midday trading on Friday, hitting C$198.50. 25,638 shares of the company’s stock traded hands, compared to its average volume of 32,712. Boyd Group Income Fund has a 1 year low of C$103.17 and a 1 year high of C$204.94. The firm’s fifty day moving average is C$189.54 and its 200-day moving average is C$174.95. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 160.65. The stock has a market capitalization of $3.94 billion and a price-to-earnings ratio of 52.37.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be issued a $0.046 dividend. This is a positive change from Boyd Group Income Fund’s previous monthly dividend of $0.05. This represents a $0.55 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 26th. Boyd Group Income Fund’s dividend payout ratio (DPR) is presently 14.51%.

In other news, Senior Officer Tim O’day sold 67,500 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$192.25, for a total transaction of C$12,976,875.00. Following the completion of the sale, the insider now owns 60,674 shares of the company’s stock, valued at C$11,664,576.50. Also, Director W. Brock Bulbuck sold 75,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$192.25, for a total transaction of C$14,418,750.00. Following the transaction, the director now owns 18,161 shares of the company’s stock, valued at approximately C$3,491,452.25. Insiders sold 143,700 shares of company stock valued at $27,608,355 over the last 90 days.

About Boyd Group Income Fund

Boyd Group Income Fund operates as an unincorporated open-ended mutual fund trust. The company, through its operating company, The Boyd Group Inc, operates non-franchised collision repair centers. Its collision repair centers offer automotive collision and glass repair, and related services. The company operates its autobody/autoglass repair and related services facilities, as well as auto glass retail facilities under the Boyd Autobody & Glass, Assured Automotive, Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority, and Autoglassonly.com trade names in the United States and Canada.

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Analyst Recommendations for Boyd Group Income Fund (TSE:BYD.UN)

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