Topic: How To Invest

Q: Hi. Do you think Boyd Group is a buy? Please let me know your thoughts. Thank you.

Article Excerpt

A: Boyd Group Services Inc., $197.49, symbol BYD on Toronto (Shares outstanding: 20.2 million; Market cap: $4.1 billion; www.boydgroup.com), operates over 600 collision repair centres under the trade names Boyd Autobody & Glass and Assured Automotive in Canada; and Gerber Collision & Glass in the U.S. The company was founded in 1990 and is headquartered in Winnipeg. On January 1, 2020, Boyd Group Income Fund converted from an income trust to a conventional corporation named Boyd Group Services Inc. The company is now the second-largest collision-repair operator in North America by number of locations and annual sales. Its sites in the U.S. account for 87% of overall revenue. The collision repair industry in North America is highly fragmented, consisting primarily of small independent family-owned businesses operating in local markets. Boyd has been pursuing a business strategy over the years of acquiring independent shops and small chains to use its management expertise and economies of scale to lower operating costs. It also aims to improve sales…

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