Boyd Gaming Corporation (NYSE:BYD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to 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. “

Several other research firms have also recently issued reports on BYD. ValuEngine cut Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub raised Boyd Gaming Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Barclays PLC upped their price target on Boyd Gaming Corporation from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating and issued a $29.00 target price (down from $30.00) on shares of Boyd Gaming Corporation in a report on Sunday, July 30th. Finally, Telsey Advisory Group boosted their target price on Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.93.

Shares of Boyd Gaming Corporation (NYSE BYD) traded up 6.25% during mid-day trading on Thursday, reaching $27.18. 3,741,351 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $26.04 and its 200-day moving average is $24.71. Boyd Gaming Corporation has a 52-week low of $16.77 and a 52-week high of $27.39. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 7.18 and a beta of 1.87.

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

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In other news, Director John Robert Bailey acquired 10,000 shares of Boyd Gaming Corporation stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $25.33 per share, for a total transaction of $253,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William S. Boyd sold 76,531 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total value of $1,927,050.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,531 shares of company stock worth $3,447,521. Corporate insiders own 29.16% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in 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 acquiring an additional 10,403,749 shares during the last quarter. Vanguard Group Inc. increased its position in Boyd Gaming Corporation by 2.4% during the first quarter. Vanguard Group Inc. now owns 9,726,723 shares of the company’s stock valued at $214,085,000 after acquiring an additional 227,769 shares during the last quarter. State Street Corp increased its position in Boyd Gaming Corporation by 4.0% during the second quarter. State Street Corp now owns 1,951,576 shares of the company’s stock valued at $48,421,000 after acquiring an additional 75,012 shares during the last quarter. Bank of America Corp DE increased its position in 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 acquiring an additional 1,169,330 shares during the last quarter. Finally, FMR LLC increased its position in 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 acquiring an additional 1,193,874 shares during the last quarter. Institutional investors own 74.66% of the company’s stock.

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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