Boyd Gaming Corp. (NYSE: BYD) has seen a decline in its stock price by -1.50 in relation to its previous close of 64.66. However, the company has experienced a -2.14% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-05 that It may not be much, but the Russell 2000 Index (RUT) is up 7% in 2024. The index still sits about 20% below the all-time high it reached in November 2021.
Is It Worth Investing in Boyd Gaming Corp. (NYSE: BYD) Right Now?
The price-to-earnings ratio for Boyd Gaming Corp. (NYSE: BYD) is above average at 10.46x. The 36-month beta value for BYD is also noteworthy at 1.60. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 0 rating it as “overweight,” 5 rating it as “hold,” and 0 rating it as “sell.”
The public float for BYD is 74.09M, and at present, short sellers hold a 4.60% of that float. The average trading volume of BYD on April 18, 2024 was 723.95K shares.
BYD’s Market Performance
BYD stock saw an increase of -2.14% in the past week, with a monthly gain of 2.51% and a quarterly increase of 2.69%. The volatility ratio for the week is 1.89%, and the volatility levels for the last 30 days are 1.69% for Boyd Gaming Corp. (BYD). The simple moving average for the last 20 days is -2.44% for BYD stock, with a simple moving average of 0.48% for the last 200 days.
Analysts’ Opinion of BYD
Many brokerage firms have already submitted their reports for BYD stocks, with Mizuho repeating the rating for BYD by listing it as a “Buy.” The predicted price for BYD in the upcoming period, according to Mizuho is $80 based on the research report published on March 26, 2024 of the current year 2024.
Susquehanna, on the other hand, stated in their research note that they expect to see BYD reach a price target of $75, previously predicting the price at $84. The rating they have provided for BYD stocks is “Neutral” according to the report published on February 12th, 2024.
BYD Trading at -1.13% from the 50-Day Moving Average
After a stumble in the market that brought BYD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.75% of loss for the given period.
Volatility was left at 1.69%, however, over the last 30 days, the volatility rate increased by 1.89%, as shares surge +1.60% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.36% upper at present.
During the last 5 trading sessions, BYD fell by -2.14%, which changed the moving average for the period of 200-days by -8.19% in comparison to the 20-day moving average, which settled at $65.34. In addition, Boyd Gaming Corp. saw 1.72% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BYD starting from BOYD WILLIAM S, who sale 32,703 shares at the price of $62.10 back on Mar 14 ’24. After this action, BOYD WILLIAM S now owns 8,762,746 shares of Boyd Gaming Corp., valued at $2,030,856 using the latest closing price.
BOYD WILLIAM S, the 10% Owner of Boyd Gaming Corp., sale 63,464 shares at $63.12 during a trade that took place back on Mar 13 ’24, which means that BOYD WILLIAM S is holding 8,795,449 shares at $4,005,848 based on the most recent closing price.
Stock Fundamentals for BYD
Current profitability levels for the company are sitting at:
- 0.27 for the present operating margin
- 0.52 for the gross margin
The net margin for Boyd Gaming Corp. stands at 0.17. The total capital return value is set at 0.17. Equity return is now at value 37.19, with 9.50 for asset returns.
Based on Boyd Gaming Corp. (BYD), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at 0.3. The debt to equity ratio resting at 1.73. The interest coverage ratio of the stock is 5.87.
Currently, EBITDA for the company is 1.27 billion with net debt to EBITDA at 2.65. When we switch over and look at the enterprise to sales, we see a ratio of 2.55. The receivables turnover for the company is 26.44for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.89.
Conclusion
In summary, Boyd Gaming Corp. (BYD) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
