Boyd Group Fund (BYD.UN) Receives a Buy from CIBC

By Ryan Adsit

Today, an analyst has provided a rating update for the Utilities sector company, Boyd Group Fund (BYD.UNResearch Report). The company received a Buy rating from CIBC’s analyst Mark Petrie, with a C$161 price target.

Petrie has an average return of 26.6% when recommending Boyd Group Fund.

According to TipRanks.com, Petrie is ranked #243 out of 5265 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boyd Group Fund with a C$154 average price target, which is a 9.7% upside from current levels. In a report released yesterday, BMO Capital also reiterated a Buy rating on the stock with a C$154 price target.

.

Based on Boyd Group Fund’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$29.9 million. In comparison, last year the company had a net profit of C$23.17 million.

Boyd Group Income Fund is an unincorporated and open-minded fund trust, which engages in managing non-franchised collision repair centers and retails of auto glass. Its businesses include Boyd Autobody and Glass, Gerber Collision and Glass, Gerber National Claim Services, Glass America, and Assured Automotive.

The company’s shares closed on Friday at C$140.33, close to its 52-week high of C$142.46.