Boyd Gaming Corporation (NYSE:BYD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of Boyd Gaming Corporation from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, October 27th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $27.00 target price on shares of Boyd Gaming Corporation in a report on Tuesday, October 24th. BidaskClub upgraded shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. ValuEngine cut shares of Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Morgan Stanley set a $28.00 target price on shares of Boyd Gaming Corporation and gave the stock a “hold” rating in a report on Tuesday, October 24th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $27.47.

Boyd Gaming Corporation (NYSE:BYD) opened at $28.89 on Thursday. Boyd Gaming Corporation has a 12-month low of $18.20 and a 12-month high of $29.89. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.74 and a current ratio of 0.73. The firm has a market cap of $3,292.08, a PE ratio of 24.81 and a beta of 1.82.

Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Boyd Gaming Corporation had a net margin of 5.08% and a return on equity of 13.82%. The business had revenue of $587.70 million for the quarter, compared to the consensus estimate of $592.29 million. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. sell-side analysts expect that Boyd Gaming Corporation will post 1.05 earnings per share for the current year.

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In other news, Director Robert L. Boughner sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total value of $1,068,000.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $1,068,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Boyd sold 7,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total transaction of $186,970.00. Following the completion of the sale, the vice president now directly owns 1,251 shares of the company’s stock, valued at $33,414.21. The disclosure for this sale can be found here. 29.16% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Fortaleza Asset Management Inc. raised its position in Boyd Gaming Corporation by 80.7% during the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after acquiring an additional 2,515 shares in the last quarter. Seven Eight Capital LP bought a new position in Boyd Gaming Corporation during the second quarter valued at approximately $154,000. Oppenheimer Asset Management Inc. bought a new position in Boyd Gaming Corporation during the first quarter valued at approximately $161,000. Zacks Investment Management bought a new position in Boyd Gaming Corporation during the second quarter valued at approximately $202,000. Finally, Shelton Capital Management bought a new position in Boyd Gaming Corporation during the second quarter valued at approximately $203,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Corporation 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 Corporation (NYSE:BYD)

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