Boyd Gaming (NYSE:BYD) Research Coverage Started at Mizuho

Equities researchers at Mizuho began coverage on shares of Boyd Gaming (NYSE:BYD) in a report released on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $80.00 price target on the stock. Mizuho’s price target would suggest a potential upside of 20.45% from the company’s previous close.

Several other analysts also recently weighed in on BYD. Wells Fargo & Company boosted their price target on Boyd Gaming from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Truist Financial boosted their price target on Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Boyd Gaming from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price objective on shares of Boyd Gaming in a report on Friday, January 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.20.

Boyd Gaming Stock Up 1.2 %

Shares of BYD stock opened at $66.42 on Tuesday. Boyd Gaming has a 1-year low of $52.42 and a 1-year high of $73.00. The stock’s fifty day moving average price is $63.93 and its 200 day moving average price is $61.54. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 2.93 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. On average, research analysts expect that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the completion of the transaction, the insider now owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the completion of the transaction, the vice president now owns 1,617,970 shares of the company’s stock, valued at $103,614,798.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 582,910 shares of company stock valued at $37,299,461. 29.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of hedge funds have recently made changes to their positions in the company. Prospera Financial Services Inc raised its holdings in shares of Boyd Gaming by 3.1% during the first quarter. Prospera Financial Services Inc now owns 5,306 shares of the company’s stock valued at $340,000 after acquiring an additional 159 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Boyd Gaming by 15.0% during the second quarter. Sunbelt Securities Inc. now owns 1,575 shares of the company’s stock valued at $109,000 after acquiring an additional 205 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Boyd Gaming by 105.5% during the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after acquiring an additional 211 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Boyd Gaming by 3.7% during the third quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock valued at $363,000 after acquiring an additional 213 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in shares of Boyd Gaming by 3.1% during the second quarter. Cetera Advisor Networks LLC now owns 7,163 shares of the company’s stock valued at $497,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

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.