Boyd Gaming Co. (NYSE:BYD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $25.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.81% from the stock’s previous close.

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 equities analysts also recently issued reports on the company. Imperial Capital reissued an “outperform” rating and issued a $26.00 target price on shares of Boyd Gaming in a research report on Tuesday, February 21st. Barclays PLC set a $22.00 target price on Boyd Gaming and gave the company a “hold” rating in a research report on Saturday, February 18th. Telsey Advisory Group began coverage on Boyd Gaming in a research report on Wednesday, February 15th. They issued an “outperform” rating and a $23.00 target price on the stock. Instinet upped their target price on Boyd Gaming from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Finally, Aegis began coverage on Boyd Gaming in a research report on Monday, February 13th. They issued a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Boyd Gaming has a consensus rating of “Buy” and a consensus target price of $24.46.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

Boyd Gaming (NYSE:BYD) traded up 1.50% during midday trading on Tuesday, reaching $22.36. The company’s stock had a trading volume of 1,395,326 shares. The stock’s 50 day moving average price is $20.87 and its 200-day moving average price is $19.94. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 6.17 and a beta of 1.64. Boyd Gaming has a one year low of $16.77 and a one year high of $22.36.

Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, February 14th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.14. Boyd Gaming had a return on equity of 13.66% and a net margin of 18.37%. The firm had revenue of $554.50 million for the quarter, compared to the consensus estimate of $562.55 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Boyd Gaming will post $1.16 EPS for the current fiscal year.

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In other news, Director Robert L. Boughner sold 60,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $19.64, for a total transaction of $1,178,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian A. Larson sold 10,740 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $19.90, for a total transaction of $213,726.00. Following the sale, the executive vice president now directly owns 197,724 shares in the company, valued at $3,934,707.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,740 shares of company stock worth $1,797,726. Corporate insiders own 29.67% of the company’s stock.

Several large investors have recently bought and sold shares of BYD. Boston Advisors LLC raised its stake in Boyd Gaming by 7.5% in the third quarter. Boston Advisors LLC now owns 39,260 shares of the company’s stock valued at $777,000 after buying an additional 2,755 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Boyd Gaming by 1.4% in the third quarter. Louisiana State Employees Retirement System now owns 36,200 shares of the company’s stock valued at $716,000 after buying an additional 500 shares during the last quarter. Capital One National Association raised its stake in Boyd Gaming by 1.6% in the third quarter. Capital One National Association now owns 18,151 shares of the company’s stock valued at $359,000 after buying an additional 293 shares during the last quarter. Aperio Group LLC raised its stake in Boyd Gaming by 0.4% in the third quarter. Aperio Group LLC now owns 30,493 shares of the company’s stock valued at $603,000 after buying an additional 127 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Boyd Gaming by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 982,969 shares of the company’s stock valued at $19,444,000 after buying an additional 16,707 shares during the last quarter. 69.79% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

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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