Argus started coverage on shares of Boyd Gaming (NYSE:BYD) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $44.00 price target on the stock. Argus’ target price suggests a potential upside of 16.59% from the company’s current price.

Several other research analysts have also recently weighed in on BYD. ValuEngine cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, October 4th. Telsey Advisory Group lifted their price target on Boyd Gaming from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Morgan Stanley set a $28.00 price target on Boyd Gaming and gave the company a “hold” rating in a research report on Tuesday, October 24th. Finally, SunTrust Banks reiterated a “buy” rating and set a $27.00 price target on shares of Boyd Gaming in a research report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.69.

Shares of Boyd Gaming (NYSE BYD) traded up $0.58 during trading hours on Wednesday, hitting $37.74. The stock had a trading volume of 670,952 shares, compared to its average volume of 1,124,385. Boyd Gaming has a 1 year low of $19.20 and a 1 year high of $37.75. The stock has a market capitalization of $4,230.00, a PE ratio of 45.47 and a beta of 1.82. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The firm had revenue of $587.70 million during the quarter, compared to analysts’ expectations of $592.29 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. research analysts expect that Boyd Gaming will post 1.04 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of BYD. Fortaleza Asset Management Inc. grew its holdings in Boyd Gaming by 80.7% in the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after purchasing an additional 2,515 shares during the period. Seven Eight Capital LP acquired a new stake in Boyd Gaming in the second quarter valued at approximately $154,000. Zacks Investment Management acquired a new stake in Boyd Gaming in the second quarter valued at approximately $202,000. Shelton Capital Management acquired a new stake in Boyd Gaming in the second quarter valued at approximately $203,000. Finally, Creative Planning acquired a new stake in Boyd Gaming in the fourth quarter valued at approximately $206,000. 76.22% of the stock is currently owned by institutional investors.

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Boyd Gaming Company Profile

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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