Boyd Gaming (NYSE:BYD) Lowered to “Hold” at Deutsche Bank Aktiengesellschaft

Boyd Gaming (NYSE:BYD) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Briefing.com reports. They presently have a $71.00 price objective on the stock, down from their previous price objective of $78.00. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 12.90% from the company’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley raised their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Barclays raised their price objective on shares of Boyd Gaming from $66.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price target on shares of Boyd Gaming in a research note on Friday, January 5th. Finally, Wells Fargo & Company upped their price objective on Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Boyd Gaming currently has an average rating of “Hold” and an average price target of $74.30.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $62.89 on Friday. The firm’s 50 day simple moving average is $64.19 and its 200 day simple moving average is $62.06. Boyd Gaming has a fifty-two week low of $52.42 and a fifty-two week high of $73.00. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 2.98 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.72 earnings per share. As a group, sell-side analysts forecast that Boyd Gaming will post 6.19 earnings per share for the current year.

Insider Buying and Selling at Boyd Gaming

In related news, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Ted Bogich sold 41,631 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the transaction, the chief operating officer now owns 66,803 shares in the company, valued at $4,328,166.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares of the company’s stock, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 over the last 90 days. Company insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Boyd Gaming by 2.1% in the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock valued at $485,442,000 after buying an additional 167,849 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Boyd Gaming by 34.4% during the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after purchasing an additional 1,216,121 shares in the last quarter. Boston Partners increased its position in shares of Boyd Gaming by 29.5% in the fourth quarter. Boston Partners now owns 2,756,215 shares of the company’s stock worth $172,638,000 after purchasing an additional 628,512 shares during the period. HG Vora Capital Management LLC raised its stake in Boyd Gaming by 12.5% in the third quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company’s stock valued at $136,868,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Boyd Gaming by 885.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock worth $100,822,000 after purchasing an additional 1,489,240 shares during the period. Institutional investors own 76.81% of the company’s stock.

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.