Boyd Gaming (NYSE:BYD) Upgraded by Wells Fargo & Company to “Hold” Rating

Boyd Gaming (NYSE:BYD) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Mizuho raised their price objective on shares of Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Stifel Nicolaus increased their price target on Boyd Gaming from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 25th. Morgan Stanley lifted their price objective on Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Macquarie reiterated a “neutral” rating and issued a $90.00 price objective on shares of Boyd Gaming in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on Boyd Gaming from $87.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.83.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $78.64 on Monday. The company has a market cap of $6.14 billion, a PE ratio of 3.44, a PEG ratio of 2.02 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. Boyd Gaming has a 1 year low of $58.94 and a 1 year high of $88.49. The company’s 50-day moving average is $82.38 and its two-hundred day moving average is $80.71.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. The company had revenue of $707.32 million during the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 41.97%. Equities analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Insiders Place Their Bets

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $85.21, for a total value of $2,130,250.00. Following the completion of the transaction, the chief executive officer directly owned 1,046,689 shares of the company’s stock, valued at approximately $89,188,369.69. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Boyd sold 20,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This trade represents a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 185,035 shares of company stock valued at $15,818,839. Insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in Boyd Gaming in the 3rd quarter valued at $94,000. Hancock Whitney Corp raised its stake in shares of Boyd Gaming by 85.2% in the 3rd quarter. Hancock Whitney Corp now owns 23,228 shares of the company’s stock valued at $2,008,000 after purchasing an additional 10,689 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Boyd Gaming by 10.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 42,826 shares of the company’s stock valued at $3,742,000 after purchasing an additional 4,165 shares in the last quarter. Caxton Associates LLP lifted its holdings in shares of Boyd Gaming by 1,079.2% in the third quarter. Caxton Associates LLP now owns 37,038 shares of the company’s stock valued at $3,202,000 after purchasing an additional 33,897 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Boyd Gaming during the third quarter worth about $2,304,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.