Boyd Gaming (NYSE:BYD) Rating Lowered to Buy at StockNews.com

Boyd Gaming (NYSE:BYD) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Several other research firms also recently commented on BYD. Wells Fargo & Company raised their target price on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Susquehanna upped their price objective on Boyd Gaming from $69.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.20.

Boyd Gaming Stock Up 0.7 %

Shares of BYD stock opened at $75.91 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a market cap of $6.71 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 4.46 and a beta of 1.54. The stock has a 50 day moving average of $74.96 and a 200-day moving average of $69.37. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $80.50.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. On average, equities analysts predict that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming announced that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In related news, Director Christine J. Spadafor sold 660 shares of Boyd Gaming stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares in the company, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,660 shares of company stock worth $5,123,749. Corporate insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Several large investors have recently modified their holdings of the stock. PharVision Advisers LLC acquired a new position in Boyd Gaming in the 4th quarter valued at about $522,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Boyd Gaming by 25.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,571 shares of the company’s stock valued at $11,575,000 after purchasing an additional 32,020 shares during the last quarter. WBI Investments LLC increased its stake in shares of Boyd Gaming by 440.7% during the fourth quarter. WBI Investments LLC now owns 38,257 shares of the company’s stock worth $2,775,000 after purchasing an additional 31,182 shares during the period. State of Wyoming increased its stake in shares of Boyd Gaming by 253.1% during the fourth quarter. State of Wyoming now owns 5,597 shares of the company’s stock worth $406,000 after purchasing an additional 4,012 shares during the period. Finally, Seven Six Capital Management LLC acquired a new stake in Boyd Gaming during the 4th quarter worth approximately $9,162,000. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Company Profile

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.