Boyd Group Income Fund (BYD.UN) Reaches New 12-Month High on Analyst Upgrade

Boyd Group Income Fund (TSE:BYD.UN) shares hit a new 52-week high on Thursday after National Bank Financial raised their price target on the stock from C$155.00 to C$175.00. National Bank Financial currently has an outperform rating on the stock. Boyd Group Income Fund traded as high as C$167.44 and last traded at C$167.39, with a volume of 91653 shares changing hands. The stock had previously closed at C$163.36.

A number of other research analysts have also recently commented on BYD.UN. BMO Capital Markets upped their target price on shares of Boyd Group Income Fund from C$154.00 to C$190.00 in a research report on Thursday. Raymond James boosted their price target on shares of Boyd Group Income Fund from C$160.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Thursday. Desjardins boosted their price target on shares of Boyd Group Income Fund from C$138.00 to C$151.00 in a research note on Friday, March 22nd. CIBC boosted their price target on shares of Boyd Group Income Fund from C$161.00 to C$187.00 in a research note on Thursday. Finally, TD Securities boosted their price target on shares of Boyd Group Income Fund from C$135.00 to C$160.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Boyd Group Income Fund has a consensus rating of “Buy” and a consensus price target of C$157.22.

In related news, Senior Officer Edward Cheskis sold 400 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of C$136.03, for a total transaction of C$54,410.40. Following the sale, the insider now directly owns 114,153 shares in the company, valued at C$15,527,775.98.

The company has a current ratio of 0.93, a quick ratio of 0.67 and a debt-to-equity ratio of 46.53. The company has a market capitalization of $3.26 billion and a price-to-earnings ratio of 47.05.

The company also recently announced a monthly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 26th were paid a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.32%. This is a positive change from Boyd Group Income Fund’s previous monthly dividend of $0.04. The ex-dividend date was Thursday, March 28th. Boyd Group Income Fund’s dividend payout ratio is presently 15.18%.

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About Boyd Group Income Fund (TSE:BYD.UN)

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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