Boyd Gaming (NYSE:BYD) Downgraded by StockNews.com to "Buy"

Boyd Gaming (NYSE:BYD - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

A number of other research firms also recently weighed in on BYD. Mizuho raised their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Jefferies Financial Group raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and raised their price target for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Truist Financial raised their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Boyd Gaming presently has an average rating of "Moderate Buy" and an average target price of $95.00.

Boyd Gaming Stock Up 0.6 %

NYSE:BYD traded up $0.50 during trading hours on Tuesday, hitting $78.57. The stock had a trading volume of 951,791 shares, compared to its average volume of 914,832. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $80.50. The business has a 50 day simple moving average of $74.39 and a two-hundred day simple moving average of $68.12. The company has a market cap of $6.95 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 4.38 and a beta of 1.54.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Analysts predict that Boyd Gaming will post 6.57 EPS for the current year.

Boyd Gaming announced that its board has initiated a share repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the transaction, the chairman now directly owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine J. Spadafor sold 660 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the transaction, the director now directly owns 5,977 shares in the company, valued at $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,660 shares of company stock worth $8,251,549. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Boyd Gaming by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 148 shares during the period. Cetera Trust Company N.A grew its holdings in Boyd Gaming by 5.4% during the third quarter. Cetera Trust Company N.A now owns 3,330 shares of the company's stock worth $215,000 after acquiring an additional 170 shares during the period. UMB Bank n.a. grew its holdings in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after acquiring an additional 175 shares during the period. Covestor Ltd grew its holdings in Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company's stock worth $38,000 after acquiring an additional 208 shares during the period. Finally, KBC Group NV grew its holdings in Boyd Gaming by 0.9% during the third quarter. KBC Group NV now owns 25,407 shares of the company's stock worth $1,643,000 after acquiring an additional 232 shares during the period. 76.81% of the stock is 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.