Boyd Gaming (NYSE:BYD) Upgraded by StockNews.com to Strong-Buy

Boyd Gaming (NYSE:BYD – Get Rating) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Several other research firms have also commented on BYD. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boyd Gaming from $66.00 to $72.00 in a report on Friday, February 3rd. Truist Financial raised their price target on shares of Boyd Gaming from $79.00 to $80.00 in a report on Wednesday, January 11th. Roth Capital started coverage on shares of Boyd Gaming in a report on Wednesday, January 18th. They issued a “buy” rating and a $70.00 price target on the stock. CBRE Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, February 3rd. Finally, Credit Suisse Group cut their price target on shares of Boyd Gaming from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.87.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $64.80 on Tuesday. The firm’s fifty day moving average price is $61.36 and its 200-day moving average price is $57.43. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market cap of $6.61 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.80. Boyd Gaming has a fifty-two week low of $46.10 and a fifty-two week high of $70.46.

Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.27. Boyd Gaming had a net margin of 17.98% and a return on equity of 42.63%. The firm had revenue of $922.90 million for the quarter, compared to analysts’ expectations of $880.30 million. During the same quarter last year, the company posted $1.35 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Boyd Gaming will post 5.87 earnings per share for the current fiscal year.

Insider Transactions at Boyd Gaming

In other news, CFO Josh Hirsberg sold 16,000 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $61.00, for a total value of $976,000.00. Following the completion of the sale, the chief financial officer now directly owns 396,905 shares in the company, valued at $24,211,205. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Keith Smith sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $64.05, for a total transaction of $1,601,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,297,562 shares in the company, valued at $83,108,846.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Josh Hirsberg sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $61.00, for a total transaction of $976,000.00. Following the sale, the chief financial officer now owns 396,905 shares of the company’s stock, valued at $24,211,205. The disclosure for this sale can be found here. Insiders sold 760,270 shares of company stock worth $47,820,536 over the last three months. 28.41% of the stock is currently owned by company insiders.

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently modified their holdings of the company. Occudo Quantitative Strategies LP increased its stake in shares of Boyd Gaming by 240.3% in the second quarter. Occudo Quantitative Strategies LP now owns 27,486 shares of the company’s stock worth $1,367,000 after purchasing an additional 19,409 shares in the last quarter. Duality Advisers LP bought a new position in shares of Boyd Gaming during the third quarter worth $1,005,000. AlphaCrest Capital Management LLC boosted its position in shares of Boyd Gaming by 90.2% during the second quarter. AlphaCrest Capital Management LLC now owns 36,831 shares of the company’s stock worth $1,832,000 after acquiring an additional 17,471 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of Boyd Gaming during the third quarter worth $384,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Boyd Gaming by 5.6% during the third quarter. Russell Investments Group Ltd. now owns 241,491 shares of the company’s stock worth $11,512,000 after acquiring an additional 12,819 shares during the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

About Boyd Gaming

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Boyd Gaming Corp. is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of eight casinos that primarily serve the resident population in the Las Vegas metropolitan area.