Boyd Gaming (NYSE:BYD) Downgraded by Argus to Hold

Boyd Gaming (NYSE:BYD - Get Free Report) was downgraded by equities researchers at Argus from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, MarketBeat.com reports.

BYD has been the subject of several other research reports. StockNews.com upgraded Boyd Gaming from a "hold" rating to a "buy" rating in a research note on Wednesday, January 24th. Susquehanna reiterated a "neutral" rating and set a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. JPMorgan Chase & Co. lowered shares of Boyd Gaming from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $80.00 to $67.00 in a research report on Friday, April 26th. Stifel Nicolaus dropped their target price on shares of Boyd Gaming from $71.00 to $65.00 and set a "hold" rating on the stock in a report on Friday, April 26th. Finally, Morgan Stanley upped their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $72.20.

Boyd Gaming Stock Down 0.3 %

Shares of Boyd Gaming stock traded down $0.15 on Wednesday, hitting $53.36. 1,549,212 shares of the company traded hands, compared to its average volume of 843,633. The company has a market cap of $5.11 billion, a PE ratio of 9.55, a PEG ratio of 2.55 and a beta of 1.60. Boyd Gaming has a 12-month low of $52.42 and a 12-month high of $73.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. The company has a 50-day moving average price of $63.62 and a 200 day moving average price of $61.95.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. Sell-side analysts predict that Boyd Gaming will post 6.13 earnings per share for the current year.

Insider Buying and Selling at Boyd Gaming

In related news, Director A. Randall Thoman sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the transaction, the director now owns 4,017 shares in the company, valued at approximately $256,083.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at approximately $256,083.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ted Bogich sold 41,631 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the completion of the transaction, the chief operating officer now owns 66,803 shares in the company, valued at $4,328,166.37. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock valued at $37,299,461 in the last 90 days. 28.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boyd Gaming

Several institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its position in Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock worth $25,000 after purchasing an additional 211 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Boyd Gaming during the fourth quarter worth $30,000. Allspring Global Investments Holdings LLC increased its holdings in Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Principal Securities Inc. acquired a new position in Boyd Gaming in the fourth quarter valued at about $50,000. Finally, Allworth Financial LP boosted its holdings in Boyd Gaming by 3,333.3% during the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company's stock worth $64,000 after buying an additional 1,000 shares during 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.