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

Boyd Gaming (NYSE:BYD) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

A number of other brokerages also recently commented on BYD. Macquarie reduced their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Mizuho reissued an “outperform” rating and issued a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Barclays boosted their price target on shares of Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Morgan Stanley boosted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boyd Gaming has an average rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Price Performance

Shares of BYD stock opened at $71.63 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. The firm’s 50-day moving average is $62.94 and its two-hundred day moving average is $58.45. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $72.18. The company has a market capitalization of $6.80 billion, a PE ratio of 12.86 and a beta of 1.57.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares in the company, valued at $66,154.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its position in shares of Boyd Gaming by 14.8% during the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after buying an additional 28,844 shares during the last quarter. Sei Investments Co. lifted its position in shares of Boyd Gaming by 14.7% during the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after buying an additional 51,252 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Boyd Gaming during the 1st quarter worth approximately $930,000. Banco Santander S.A. lifted its position in shares of Boyd Gaming by 34.0% during the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock worth $12,622,000 after buying an additional 47,606 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Boyd Gaming by 103.1% during the 1st quarter. Comerica Bank now owns 42,898 shares of the company’s stock worth $2,888,000 after buying an additional 21,772 shares during the last quarter. Institutional investors and hedge funds 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.