Boyd Gaming (NYSE:BYD)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank in a research note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $40.00 price objective on the stock. Deutsche Bank’s target price points to a potential upside of 57.39% from the stock’s current price.
Several other brokerages have also issued reports on BYD. ValuEngine lowered Boyd Gaming from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Susquehanna Bancshares started coverage on Boyd Gaming in a research note on Wednesday, July 24th. They issued a “neutral” rating and a $28.00 target price for the company. Telsey Advisory Group raised Boyd Gaming from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $31.00 to $36.00 in a research note on Wednesday. Morgan Stanley set a $34.00 target price on Boyd Gaming and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Wolfe Research started coverage on Boyd Gaming in a research report on Friday, June 14th. They issued an “outperform” rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Boyd Gaming currently has an average rating of “Buy” and an average target price of $35.00.
BYD traded down $0.44 during midday trading on Wednesday, hitting $25.42. The stock had a trading volume of 371,987 shares, compared to its average volume of 876,781. The stock has a market capitalization of $3.10 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.07 and a beta of 2.13. The company’s fifty day moving average is $26.79. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.68 and a current ratio of 0.72. Boyd Gaming has a 1 year low of $18.98 and a 1 year high of $37.39.
Several institutional investors have recently made changes to their positions in BYD. FMR LLC raised its position in shares of Boyd Gaming by 20.0% during the 1st quarter. FMR LLC now owns 7,182,207 shares of the company’s stock worth $196,506,000 after purchasing an additional 1,198,851 shares during the last quarter. Norges Bank acquired a new position in shares of Boyd Gaming during the 4th quarter worth approximately $19,594,000. Pinnacle Associates Ltd. raised its position in shares of Boyd Gaming by 19.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,318,599 shares of the company’s stock worth $36,077,000 after purchasing an additional 213,855 shares during the last quarter. First Republic Investment Management Inc. raised its position in shares of Boyd Gaming by 654.7% during the 1st quarter. First Republic Investment Management Inc. now owns 224,783 shares of the company’s stock worth $6,150,000 after purchasing an additional 195,000 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Boyd Gaming during the 2nd quarter worth approximately $5,241,000. Institutional investors own 66.43% of the company’s stock.
Boyd Gaming Company Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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