Boyd Gaming (NYSE:BYD) Stock Rating Lowered by StockNews.com

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

Several other equities analysts have also issued reports on BYD. Mizuho boosted their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Truist Financial increased their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Susquehanna lifted their price objective on Boyd Gaming from $69.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.20.

Boyd Gaming Trading Up 0.4 %

BYD stock traded up $0.28 during mid-day trading on Thursday, reaching $76.12. 1,284,749 shares of the stock traded hands, compared to its average volume of 935,409. The stock's fifty day moving average is $75.15 and its 200-day moving average is $69.64. The company has a market cap of $6.37 billion, a P/E ratio of 12.24, a P/E/G ratio of 4.46 and a beta of 1.54. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $80.50. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

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Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, sell-side analysts expect that Boyd Gaming will post 6.52 earnings per share for the current year.

Boyd Gaming declared that its board has authorized a share repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the transaction, the director now directly owns 5,977 shares of the company's stock, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now directly owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,660 shares of company stock valued at $5,123,749. Corporate insiders own 27.94% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC bought a new position in shares of Boyd Gaming during the fourth quarter worth about $522,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Boyd Gaming by 25.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,571 shares of the company's stock worth $11,575,000 after buying an additional 32,020 shares during the period. WBI Investments LLC grew its position in Boyd Gaming by 440.7% during the 4th quarter. WBI Investments LLC now owns 38,257 shares of the company's stock worth $2,775,000 after purchasing an additional 31,182 shares in the last quarter. State of Wyoming lifted its position in Boyd Gaming by 253.1% in the 4th quarter. State of Wyoming now owns 5,597 shares of the company's stock worth $406,000 after buying an additional 4,012 shares in the last quarter. Finally, Seven Six Capital Management LLC purchased a new stake in shares of Boyd Gaming during the 4th quarter worth about $9,162,000. 76.81% of the stock is currently owned by institutional investors.

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.