Boyd Group Income Fund

BYD.UN-T

TSE:BYD.UN

202.00
1.48 (0.73%)
The Boyd Group is a company based in Winnipeg, Manitoba, Canada. It was founded by Terry Smith of Winnipeg. Under Smith's direction, Boyd grew to be the largest operator of collision repair centres in North America.
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Analysis and Opinions about BYD.UN-T

Signal
Opinion
Expert
BUY
BUY
January 9, 2020

They are a roll up story. The risk is just autonomous driven vehicles.

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They are a roll up story. The risk is just autonomous driven vehicles.

COMMENT
COMMENT
January 7, 2020
The stock has had a good run in the last 16 weeks. Looking at the technical implications, he would say $260 if you want to be bullish. However, this doesn't look into their earnings. Taking this into consideration, the company is 45% over value so there is a lot of risk at the present time. $180 is the line in the sand. If it fails, get out. Not a value stock.
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The stock has had a good run in the last 16 weeks. Looking at the technical implications, he would say $260 if you want to be bullish. However, this doesn't look into their earnings. Taking this into consideration, the company is 45% over value so there is a lot of risk at the present time. $180 is the line in the sand. If it fails, get out. Not a value stock.
Ross Healy

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Price
$202.000
Owned
Unknown
BUY
BUY
December 17, 2019
A tremendous compounder and performer over the past 10 years and will continue to do so. They have a small market share of the US car collision space, and the small operators are selling to Boyd as this space consolidates. BYD has a lot of room to grow. Insurers wants to work with a few, established providers like Boyd. Private-capital peers are highly leveraged, so that give Boyd a better chance than them to acquire.
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A tremendous compounder and performer over the past 10 years and will continue to do so. They have a small market share of the US car collision space, and the small operators are selling to Boyd as this space consolidates. BYD has a lot of room to grow. Insurers wants to work with a few, established providers like Boyd. Private-capital peers are highly leveraged, so that give Boyd a better chance than them to acquire.
PARTIAL SELL
PARTIAL SELL
November 19, 2019
A spectacular chart, straight up. You can take some profits, but don't sell it all. Take half off the table.
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A spectacular chart, straight up. You can take some profits, but don't sell it all. Take half off the table.
PAST TOP PICK
PAST TOP PICK
November 12, 2019

(A Top Pick Apr 15/19, Up 30%) It's become a consolidator (which he prefers to a roll-up), because being a consolidator gives Boyd a platform for acquisitions and reduces overall costs. Boyd is a go-to to consolidate tens of thousands of auto body shops. They will expand to the U.S. as a stock, which is okay to hold in an RRSP but not a taxable account.

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(A Top Pick Apr 15/19, Up 30%) It's become a consolidator (which he prefers to a roll-up), because being a consolidator gives Boyd a platform for acquisitions and reduces overall costs. Boyd is a go-to to consolidate tens of thousands of auto body shops. They will expand to the U.S. as a stock, which is okay to hold in an RRSP but not a taxable account.

TOP PICK
TOP PICK
October 21, 2019
They are converting from an income trust to a standard corporation. Auto body and auto glass repair. Most business is from insurance companies. Earnings are expected to grow 20% this year and 15% net year. (Analysts’ price target is $197.36)
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They are converting from an income trust to a standard corporation. Auto body and auto glass repair. Most business is from insurance companies. Earnings are expected to grow 20% this year and 15% net year. (Analysts’ price target is $197.36)
BUY WEAKNESS
BUY WEAKNESS
October 9, 2019
Very well-run, but too expensive now. When the valuation lowers, she will consider it.
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Very well-run, but too expensive now. When the valuation lowers, she will consider it.
COMMENT
COMMENT
October 7, 2019
The chart isn't bad. It has moved up this year, though at a slower pace than in 2017-8. The chart is taking a break; it can't go up that fast forever. It's been consolidating since May above $160. But if the market rises and this drops, then sell. But the chart doesn't alarm him at all.
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The chart isn't bad. It has moved up this year, though at a slower pace than in 2017-8. The chart is taking a break; it can't go up that fast forever. It's been consolidating since May above $160. But if the market rises and this drops, then sell. But the chart doesn't alarm him at all.
TOP PICK
TOP PICK
October 2, 2019
It's a highly fragmented industry and the insurance industry won't deal with thousands of little repair shops and prefer dealing with big companies like Boyd. They face 10-15 years of growth. (Analysts’ price target is $198.00)
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It's a highly fragmented industry and the insurance industry won't deal with thousands of little repair shops and prefer dealing with big companies like Boyd. They face 10-15 years of growth. (Analysts’ price target is $198.00)
TOP PICK
TOP PICK
September 19, 2019
Their earnings over the past decade have risen 10-fold and their share count has risen less than 100%. A well-run company that is now converting from an income trust into a corporation that will attract a new set of investors. (Analysts’ price target is $198.00)
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Their earnings over the past decade have risen 10-fold and their share count has risen less than 100%. A well-run company that is now converting from an income trust into a corporation that will attract a new set of investors. (Analysts’ price target is $198.00)
BUY WEAKNESS
BUY WEAKNESS
September 12, 2019
Very well run. Potentially could buy on a pullback. Good market share. More income than growth. Valuation has kept her out. Yield is 0.3%.
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Very well run. Potentially could buy on a pullback. Good market share. More income than growth. Valuation has kept her out. Yield is 0.3%.
DON'T BUY
DON'T BUY
September 3, 2019
Investors buy this for the yield. Valuations of interest-sensitive stocks like this are getting pressured now, so he wouldn't add to or buy this now.
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Investors buy this for the yield. Valuations of interest-sensitive stocks like this are getting pressured now, so he wouldn't add to or buy this now.
WAIT
WAIT
August 8, 2019
Has tended to peak out every time it gets to 5.5x book value. And that's where it is right now. Doesn't see a lot of upside from here. Would want to see it drop back before he buys.
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Has tended to peak out every time it gets to 5.5x book value. And that's where it is right now. Doesn't see a lot of upside from here. Would want to see it drop back before he buys.
Ross Healy

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Price
$181.000
Owned
Unknown
TOP PICK
TOP PICK
July 22, 2019
He's long owned this and Boyd continues to execute (though there may be a slower quarter coming). They suffered a ransomware attack recently. There'll be tremendous consolidation in the car repair space, because the big three own only 5% of the market. Excellent managers. You can add on weakness. (Analysts’ price target is $185.64)
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He's long owned this and Boyd continues to execute (though there may be a slower quarter coming). They suffered a ransomware attack recently. There'll be tremendous consolidation in the car repair space, because the big three own only 5% of the market. Excellent managers. You can add on weakness. (Analysts’ price target is $185.64)
TOP PICK
TOP PICK
June 19, 2019
Collision repair centres. They make great acquisitions and quickly find efficiencies. They have deals with large insurance companies as they are the required centre to have repairs done. A long runway for growth. Yield 0.32% (Analysts’ price target is $182.83)
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Collision repair centres. They make great acquisitions and quickly find efficiencies. They have deals with large insurance companies as they are the required centre to have repairs done. A long runway for growth. Yield 0.32% (Analysts’ price target is $182.83)
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