Boyd Gaming (NYSE:BYD) had its price target hoisted by Deutsche Bank to $37.00 in a research report released on Wednesday.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Boyd Gaming from a hold rating to a sell rating in a research note on Wednesday, November 1st. ValuEngine raised shares of Boyd Gaming from a hold rating to a buy rating in a research note on Wednesday, September 6th. SunTrust Banks reissued a buy rating and issued a $27.00 target price on shares of Boyd Gaming in a research note on Tuesday, October 24th. Telsey Advisory Group raised their target price on shares of Boyd Gaming from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Thursday, October 12th. Finally, Morgan Stanley set a $28.00 target price on shares of Boyd Gaming and gave the stock a hold rating in a research note on Tuesday, October 24th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $28.00.

Boyd Gaming (NYSE:BYD) traded down $0.42 during mid-day trading on Wednesday, reaching $31.65. The company had a trading volume of 891,900 shares, compared to its average volume of 1,277,525. 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 has a 12 month low of $19.19 and a 12 month high of $33.02. The firm has a market cap of $3,607.01, a PE ratio of 27.18 and a beta of 1.81.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $592.29 million. During the same period last year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. equities research analysts anticipate that Boyd Gaming will post 1.05 earnings per share for the current fiscal year.

In other news, VP William R. Boyd sold 7,000 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total transaction of $186,970.00. Following the sale, the vice president now owns 1,251 shares of the company’s stock, valued at approximately $33,414.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert L. Boughner sold 40,000 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total transaction of $1,068,000.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $1,068,000. The disclosure for this sale can be found here. 29.16% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. raised its position in Boyd Gaming by 441.4% in the second quarter. Marshall Wace North America L.P. now owns 230,849 shares of the company’s stock valued at $5,771,000 after purchasing an additional 188,208 shares during the period. DSAM Partners London Ltd purchased a new stake in Boyd Gaming in the second quarter valued at approximately $2,059,000. Cipher Capital LP raised its position in Boyd Gaming by 16.1% in the second quarter. Cipher Capital LP now owns 127,405 shares of the company’s stock valued at $3,161,000 after purchasing an additional 17,635 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in Boyd Gaming in the second quarter valued at approximately $4,385,000. Finally, Pier Capital LLC purchased a new stake in Boyd Gaming in the second quarter valued at approximately $4,660,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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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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