Boyd Gaming (NYSE:BYD) Upgraded at StockNews.com

Boyd Gaming (NYSE:BYDGet Rating) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Other analysts have also recently issued reports about the company. Susquehanna upped their target price on Boyd Gaming from $74.00 to $79.00 in a research report on Wednesday, April 27th. Berenberg Bank started coverage on Boyd Gaming in a research report on Thursday, May 12th. They set a “buy” rating and a $78.00 price objective for the company. Susquehanna Bancshares raised Boyd Gaming from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $73.00 to $74.00 in a research report on Tuesday, April 26th. Finally, Morgan Stanley cut Boyd Gaming from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $82.00 to $76.00 in a research report on Monday, April 25th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $81.75.

Shares of NYSE BYD traded down $0.70 during trading hours on Thursday, reaching $49.05. The stock had a trading volume of 1,341,661 shares, compared to its average volume of 1,179,436. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 10.62 and a beta of 1.90. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.93. Boyd Gaming has a fifty-two week low of $47.66 and a fifty-two week high of $72.72. The firm has a 50-day moving average of $57.43 and a 200-day moving average of $61.97.

Boyd Gaming (NYSE:BYDGet Rating) last announced its earnings results on Tuesday, April 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $0.93 EPS. On average, equities analysts predict that Boyd Gaming will post 5.47 EPS for the current year.

In other news, CEO Keith Smith sold 101,675 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $59.85, for a total transaction of $6,085,248.75. Following the sale, the chief executive officer now owns 1,261,362 shares in the company, valued at $75,492,515.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Boyd sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $53.74, for a total value of $1,074,800.00. Following the sale, the vice president now owns 2,056,522 shares in the company, valued at approximately $110,517,492.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 256,365 shares of company stock worth $14,862,264. 27.94% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Zeke Capital Advisors LLC boosted its holdings in Boyd Gaming by 622.1% in the third quarter. Zeke Capital Advisors LLC now owns 2,701,622 shares of the company’s stock valued at $170,905,000 after acquiring an additional 2,327,474 shares during the last quarter. Gates Capital Management Inc. boosted its holdings in Boyd Gaming by 376.0% in the fourth quarter. Gates Capital Management Inc. now owns 1,982,484 shares of the company’s stock valued at $129,991,000 after acquiring an additional 1,565,976 shares during the last quarter. Ariel Investments LLC boosted its holdings in Boyd Gaming by 1,057.6% in the fourth quarter. Ariel Investments LLC now owns 1,608,923 shares of the company’s stock valued at $105,497,000 after acquiring an additional 1,469,939 shares during the last quarter. American Century Companies Inc. boosted its holdings in Boyd Gaming by 6,433.1% in the first quarter. American Century Companies Inc. now owns 825,257 shares of the company’s stock valued at $54,285,000 after acquiring an additional 812,625 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Boyd Gaming by 45.2% in the first quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock valued at $156,715,000 after acquiring an additional 741,156 shares during the last quarter. Institutional investors and hedge funds 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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