Boyd Gaming (BYD) Upgraded at Bank of America

Boyd Gaming (NYSE:BYD) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a report released on Friday.

BYD has been the topic of several other research reports. Deutsche Bank boosted their price target on shares of Boyd Gaming to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research cut shares of Boyd Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating on shares of Boyd Gaming in a research report on Thursday, December 21st. Nomura boosted their price target on shares of Boyd Gaming to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Telsey Advisory Group boosted their price objective on shares of Boyd Gaming from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Five 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 an average target price of $29.80.

Shares of Boyd Gaming (NYSE BYD) opened at $35.11 on Friday. Boyd Gaming has a 1 year low of $19.19 and a 1 year high of $35.96. The firm has a market cap of $3,927.56, a price-to-earnings ratio of 33.76 and a beta of 1.82. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.73 and a quick ratio of 0.68.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Boyd Gaming had a return on equity of 13.82% and a net margin of 5.08%. The business had revenue of $587.70 million during the quarter, compared to the consensus estimate of $592.29 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. analysts forecast that Boyd Gaming will post 1.04 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Fortaleza Asset Management Inc. increased its position in Boyd Gaming by 80.7% during the third quarter. Fortaleza Asset Management Inc. now owns 5,630 shares of the company’s stock valued at $147,000 after acquiring an additional 2,515 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Boyd Gaming in the second quarter worth about $154,000. Zacks Investment Management bought a new position in shares of Boyd Gaming in the second quarter worth about $202,000. Shelton Capital Management bought a new position in shares of Boyd Gaming in the second quarter worth about $203,000. Finally, Regentatlantic Capital LLC bought a new position in shares of Boyd Gaming in the third quarter worth about $216,000. Institutional investors and hedge funds own 76.22% of the company’s stock.

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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.

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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