Boyd Gaming (NYSE:BYD - Get Rating) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Thursday.
A number of other equities analysts have also weighed in on BYD. Berenberg Bank started coverage on Boyd Gaming in a research note on Thursday, May 12th. They set a "buy" rating and a $78.00 price objective on the stock. Susquehanna upped their price objective on Boyd Gaming from $74.00 to $79.00 in a research report on Wednesday, April 27th. Susquehanna Bancshares raised Boyd Gaming from a "neutral" rating to a "positive" rating and upped their target price for the company from $73.00 to $74.00 in a research report on Tuesday, April 26th. Finally, Morgan Stanley downgraded Boyd Gaming from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $82.00 to $76.00 in a research note on Monday, April 25th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of "Buy" and an average price target of $81.75.
BYD stock traded down $0.70 during midday trading on Thursday, reaching $49.05. The company's stock had a trading volume of 1,341,661 shares, compared to its average volume of 1,179,436. Boyd Gaming has a 1 year low of $47.66 and a 1 year high of $72.72. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.96 and a current ratio of 0.99. The stock has a fifty day simple moving average of $57.43 and a two-hundred day simple moving average of $61.97. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 10.62 and a beta of 1.90.
Boyd Gaming (NYSE:BYD - Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.16. The firm had revenue of $860.74 million during the quarter, compared to analysts' expectations of $836.15 million. Boyd Gaming had a return on equity of 42.72% and a net margin of 15.09%. During the same period last year, the business posted $0.93 earnings per share. As a group, analysts forecast that Boyd Gaming will post 5.47 EPS for the current fiscal year.
In related news, CEO Keith Smith sold 101,675 shares of Boyd Gaming stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $59.85, for a total transaction of $6,085,248.75. Following the completion of the sale, the chief executive officer now owns 1,261,362 shares of the company's stock, valued at approximately $75,492,515.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marianne Boyd Johnson sold 64,690 shares of Boyd Gaming stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $54.95, for a total transaction of $3,554,715.50. Following the sale, the insider now directly owns 77,623 shares of the company's stock, valued at approximately $4,265,383.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,365 shares of company stock worth $14,862,264. Company insiders own 27.94% of the company's stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Boyd Gaming by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 514,672 shares of the company's stock valued at $32,560,000 after buying an additional 22,819 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Boyd Gaming during the third quarter worth approximately $100,000. Royal Bank of Canada increased its stake in shares of Boyd Gaming by 4.2% in the third quarter. Royal Bank of Canada now owns 121,545 shares of the company's stock worth $7,689,000 after buying an additional 4,872 shares during the period. Guggenheim Capital LLC boosted its holdings in Boyd Gaming by 114.6% in the third quarter. Guggenheim Capital LLC now owns 10,342 shares of the company's stock valued at $654,000 after acquiring an additional 5,523 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Boyd Gaming by 305.9% in the third quarter. Voloridge Investment Management LLC now owns 79,111 shares of the company's stock valued at $5,005,000 after acquiring an additional 59,622 shares in the last quarter. Hedge funds and other institutional investors own 70.27% of the company's stock.
Boyd Gaming Company Profile (Get Rating)
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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