Boyd Group Services Expands Credit Facilities to Support Strategic Acquisition

Boyd Group Services ( (TSE:BYD) ) just unveiled an announcement.

Boyd Group Services Inc. has amended its credit facilities to increase its revolving credit to $675 million, with the potential to expand to $1.075 billion. This amendment supports the acquisition of Joe Hudson’s Collision Center, providing favorable pricing and flexibility while maintaining the existing maturity date. The acquisition is progressing through standard closing conditions and regulatory requirements, indicating a strategic expansion that could enhance Boyd’s market position and operational capabilities.

The most recent analyst rating on (TSE:BYD) stock is a Hold with a C$176.00 price target. To see the full list of analyst forecasts on Boyd Group Services stock, see the TSE:BYD Stock Forecast page.

Spark’s Take on TSE:BYD Stock

According to Spark, TipRanks’ AI Analyst, TSE:BYD is a Neutral.

Boyd Group Services’ overall score is driven by strong technical indicators and positive corporate events, indicating potential growth and expansion. However, high leverage and valuation concerns, along with low profitability, weigh down the score. The earnings call provided a positive outlook, but challenges in same-store sales and operating expenses remain.

To see Spark’s full report on TSE:BYD stock, click here.

More about Boyd Group Services

Boyd Group Services Inc. is a Canadian corporation that operates The Boyd Group Inc. and its subsidiaries. It is one of the largest operators of non-franchised collision repair centers in North America, with locations in Canada and the U.S. under various trade names. Boyd also provides retail auto glass services and operates a third-party administrator offering glass, emergency roadside, and first notice of loss services.

Average Trading Volume: 72,910

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$6.55B

Find detailed analytics on BYD stock on TipRanks’ Stock Analysis page.