Boyd Gaming (NYSE:BYD) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research analysts have also recently issued reports on BYD. BidaskClub raised Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research cut Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Stifel Nicolaus upped their price objective on Boyd Gaming from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Morgan Stanley set a $28.00 price objective on Boyd Gaming and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, Telsey Advisory Group upped their price objective on Boyd Gaming from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.47.

Boyd Gaming (NYSE:BYD) traded up $0.16 during trading hours on Friday, hitting $32.05. The stock had a trading volume of 904,251 shares, compared to its average volume of 966,782. The firm has a market cap of $3,604.76, a PE ratio of 27.16 and a beta of 1.81. Boyd Gaming has a twelve month low of $18.54 and a twelve month high of $32.43. The company has a current ratio of 0.73, a quick ratio of 0.68 and a debt-to-equity ratio of 2.95.

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

In related news, VP William R. Boyd sold 7,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.71, for a total value 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 approximately $33,414.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Boughner sold 40,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 29.16% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BYD. Dimensional Fund Advisors LP lifted its position in Boyd Gaming by 34.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 522,507 shares of the company’s stock worth $11,500,000 after acquiring an additional 133,947 shares during the period. Nisa Investment Advisors LLC lifted its position in Boyd Gaming by 2.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 26,520 shares of the company’s stock worth $658,000 after acquiring an additional 550 shares during the period. Aperio Group LLC lifted its position in Boyd Gaming by 4.7% during the 2nd quarter. Aperio Group LLC now owns 31,737 shares of the company’s stock worth $787,000 after acquiring an additional 1,426 shares during the period. US Bancorp DE lifted its position in Boyd Gaming by 1.5% during the 2nd quarter. US Bancorp DE now owns 62,282 shares of the company’s stock worth $1,545,000 after acquiring an additional 911 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Boyd Gaming during the 2nd quarter worth approximately $340,000. 76.18% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This piece of content was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/03/boyd-gaming-byd-stock-rating-lowered-by-valuengine.html.

Boyd Gaming 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

Receive News & Ratings for Boyd Gaming Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming Corporation and related companies with MarketBeat.com's FREE daily email newsletter.