Boyd Gaming (NYSE:BYD) Earns Strong-Buy Rating from Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Boyd Gaming (NYSE:BYD – Get Rating) in a report released on Thursday. The firm set a “strong-buy” rating on the stock.

A number of other brokerages also recently issued reports on BYD. Wells Fargo & Company increased their price target on shares of Boyd Gaming from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Morgan Stanley upped their price objective on shares of Boyd Gaming from $60.00 to $62.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 1st. JMP Securities cut shares of Boyd Gaming from an “outperform” rating to a “market perform” rating in a research report on Monday, December 12th. Truist Financial upped their price objective on shares of Boyd Gaming from $79.00 to $80.00 in a research report on Wednesday, January 11th. Finally, Roth Capital started coverage on shares of Boyd Gaming in a research report on Wednesday, January 18th. They issued a “buy” rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.87.

Boyd Gaming Trading Down 1.9 %

Shares of Boyd Gaming stock opened at $59.13 on Thursday. Boyd Gaming has a 12-month low of $46.10 and a 12-month high of $70.46. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.09 and a beta of 1.80. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The company’s 50-day moving average price is $62.31 and its 200-day moving average price is $57.69.

Boyd Gaming (NYSE:BYD – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $880.30 million. During the same period in the prior year, the firm posted $1.35 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts expect that Boyd Gaming will post 5.87 earnings per share for the current fiscal year.

Insider Transactions at Boyd Gaming

In related news, insider William S. Boyd sold 11,827 shares of Boyd Gaming stock in a transaction on Monday, February 6th. The shares were sold at an average price of $65.82, for a total value of $778,453.14. Following the transaction, the insider now directly owns 14,531,372 shares of the company’s stock, valued at $956,454,905.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider William S. Boyd sold 161,000 shares of Boyd Gaming stock in a transaction on Monday, February 13th. The shares were sold at an average price of $65.69, for a total value of $10,576,090.00. Following the transaction, the insider now directly owns 14,370,372 shares of the company’s stock, valued at $943,989,736.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William S. Boyd sold 11,827 shares of Boyd Gaming stock in a transaction on Monday, February 6th. The stock was sold at an average price of $65.82, for a total transaction of $778,453.14. Following the completion of the transaction, the insider now directly owns 14,531,372 shares in the company, valued at $956,454,905.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,161 shares of company stock worth $34,312,098. 28.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in Boyd Gaming by 3.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,477 shares of the company’s stock valued at $244,000 after purchasing an additional 158 shares during the period. LPL Financial LLC increased its position in Boyd Gaming by 0.5% during the 4th quarter. LPL Financial LLC now owns 37,610 shares of the company’s stock valued at $2,051,000 after purchasing an additional 201 shares during the period. Securian Asset Management Inc. increased its position in Boyd Gaming by 2.8% during the 3rd quarter. Securian Asset Management Inc. now owns 7,414 shares of the company’s stock valued at $353,000 after purchasing an additional 202 shares during the period. Prospera Financial Services Inc increased its position in Boyd Gaming by 4.5% during the 4th quarter. Prospera Financial Services Inc now owns 5,147 shares of the company’s stock valued at $281,000 after purchasing an additional 220 shares during the period. Finally, LVZ Inc. increased its position in Boyd Gaming by 5.2% during the 4th quarter. LVZ Inc. now owns 5,103 shares of the company’s stock valued at $278,000 after purchasing an additional 251 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Company Profile

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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.