11:47 AM EDT, 03/20/2024 (MT Newswires) -- Boyd Group Services Inc. ( BYDGF ) declined more than 5% on Wednesday.

The Winnipeg, Manitoba-based operator of auto collision repair centres reported Q4 results before the market open.

"Overall, Q4 was a solid quarter highlighted by high-single-digit SSSG (despite lapping tough 21% comp) as demand continues to outpace capacity, and meaningful 100bps y/y EBITDA margin expansion as it benefited from pricing, increased scanning and calibration services, and operating leverage," TD Securities analyst Derek J. Lessard said in a note to clients.

"However, management is guiding to slightly softer SSSG (already in our current forecasts) and EBITDA than street estimates and, consequently, we think the stock could take a breather today," Lessard said.

The analyst maintained a Buy rating and $320 price target on the stock.

BYD declined $16.91, or 5.4%, to $298 on the Toronto Stock Exchange.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 298.00, Change: -16.91, Percent Change: -5.37