Boyd Gaming (NYSE:BYD) Rating Increased to Hold at Wells Fargo & Company

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

Other research analysts have also issued reports about the stock. Raymond James Financial reiterated an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. Macquarie restated a “neutral” rating and set a $90.00 price target on shares of Boyd Gaming in a report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Boyd Gaming in a research report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Mizuho increased their target price on Boyd Gaming from $89.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.83.

Boyd Gaming Stock Down 0.5%

Shares of BYD stock opened at $78.64 on Monday. The stock’s 50 day simple moving average is $82.38 and its 200 day simple moving average is $80.71. Boyd Gaming has a twelve month low of $58.94 and a twelve month high of $88.49. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 3.44, a PEG ratio of 2.02 and a beta of 1.31.

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

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,046,689 shares in the company, valued at approximately $89,188,369.69. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Boyd sold 20,000 shares of Boyd Gaming stock in a transaction that occurred on 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 sale, the director directly owned 1,960,447 shares in the company, valued at $157,541,520.92. The trade was a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 185,035 shares of company stock valued at $15,818,839 in the last ninety days. 27.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ruffer LLP bought a new position in shares of Boyd Gaming in the second quarter worth about $6,471,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Boyd Gaming in the second quarter valued at approximately $402,000. EP Wealth Advisors LLC acquired a new stake in shares of Boyd Gaming in the first quarter valued at approximately $206,000. Strs Ohio bought a new position in Boyd Gaming in the 1st quarter worth approximately $1,939,000. Finally, Redwood Investment Management LLC lifted its holdings in Boyd Gaming by 7.0% during the 1st quarter. Redwood Investment Management LLC now owns 75,792 shares of the company’s stock worth $4,989,000 after buying an additional 4,977 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

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.