Boyd Gaming Corporation (NYSE:BYD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $29.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 13.37% from the company’s current price.

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. “

BYD has been the subject of several other research reports. Barclays PLC increased their price target on shares of Boyd Gaming Corporation from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Telsey Advisory Group increased their price target on shares of Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Deutsche Bank AG reissued a “buy” rating and issued a $29.00 price target (down previously from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. BidaskClub lowered shares of Boyd Gaming Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine raised shares of Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Boyd Gaming Corporation presently has an average rating of “Buy” and a consensus price target of $26.93.

Shares of Boyd Gaming Corporation (NYSE:BYD) traded down 0.51% during trading on Wednesday, hitting $25.58. The stock had a trading volume of 1,152,175 shares. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 6.76 and a beta of 1.87. Boyd Gaming Corporation has a one year low of $16.77 and a one year high of $27.00. The stock’s 50-day moving average price is $26.06 and its 200 day moving average price is $24.71.

Boyd Gaming Corporation (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The business had revenue of $599.87 million during the quarter, compared to analyst estimates of $602.39 million. During the same period last year, the company earned $0.16 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts forecast that Boyd Gaming Corporation will post $1.12 EPS for the current year.

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In other news, insider William S. Boyd sold 76,531 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total transaction of $1,927,050.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Robert Bailey purchased 10,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were bought at an average cost of $25.33 per share, for a total transaction of $253,300.00. The disclosure for this purchase can be found here. Insiders have sold 133,531 shares of company stock worth $3,447,521 over the last three months. 29.16% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BYD. BlackRock Inc. grew its stake in shares of Boyd Gaming Corporation by 105,482.6% during the first quarter. BlackRock Inc. now owns 10,413,612 shares of the company’s stock valued at $229,205,000 after purchasing an additional 10,403,749 shares during the last quarter. FMR LLC grew its stake in shares of Boyd Gaming Corporation by 531.0% during the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after purchasing an additional 1,193,874 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Boyd Gaming Corporation by 373.3% during the first quarter. Bank of America Corp DE now owns 1,482,567 shares of the company’s stock valued at $32,631,000 after purchasing an additional 1,169,330 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Boyd Gaming Corporation by 1,386.9% during the first quarter. Point72 Asset Management L.P. now owns 1,238,594 shares of the company’s stock valued at $27,261,000 after purchasing an additional 1,155,294 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Boyd Gaming Corporation during the second quarter valued at approximately $26,973,000. 74.66% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming Corporation

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.

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Analyst Recommendations for Boyd Gaming Corporation (NYSE:BYD)

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