Boyd Gaming Corporation (NYSE:BYD) Receives Average Rating of "Hold" from Brokerages

Key Points

• Boyd Gaming Corporation has received a consensus rating of "Hold" from 14 research firms, with one sell rating, six hold ratings, and seven buy ratings issued.
• Recent price target adjustments have seen increases from several analysts, with Macquarie setting a target of $88.00 and Mizuho targeting $89.00.
• The company reported $1.87 EPS for the latest quarter, outperforming estimates and showing a 6.9% revenue increase year-over-year.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) has earned a consensus rating of "Hold" from the fourteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $86.6154.

Several analysts have issued reports on the stock. Macquarie raised their price target on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Barclays lifted their price target on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Susquehanna downgraded shares of Boyd Gaming from a "positive" rating to a "neutral" rating and boosted their target price for the stock from $76.00 to $86.00 in a research note on Friday, July 11th. Raymond James Financial boosted their target price on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, Mizuho lifted their price target on shares of Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th.

Boyd Gaming Stock Performance

NYSE:BYD opened at $84.37 on Thursday. Boyd Gaming has a 1 year low of $55.91 and a 1 year high of $87.76. The firm's fifty day simple moving average is $80.41 and its 200 day simple moving average is $74.48. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $6.76 billion, a PE ratio of 12.98, a PEG ratio of 2.36 and a beta of 1.24.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.20. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. Boyd Gaming's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. On average, sell-side analysts anticipate that Boyd Gaming will post 6.52 EPS for the current year.

Insider Activity at Boyd Gaming

In related news, Director William R. Boyd sold 9,774 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $81.61, for a total transaction of $797,656.14. Following the completion of the transaction, the director owned 15,188 shares in the company, valued at approximately $1,239,492.68. The trade was a 39.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen S. Thompson sold 15,906 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the transaction, the insider owned 38,609 shares of the company's stock, valued at approximately $3,214,199.25. This represents a 29.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,403 shares of company stock worth $3,757,196. 27.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company's stock valued at $54,000 after buying an additional 135 shares in the last quarter. GAMMA Investing LLC lifted its stake in Boyd Gaming by 24.2% in the second quarter. GAMMA Investing LLC now owns 960 shares of the company's stock valued at $75,000 after buying an additional 187 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after buying an additional 196 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Boyd Gaming by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock worth $1,224,000 after purchasing an additional 200 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Boyd Gaming by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock worth $3,143,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.