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Should Value Investors Buy Boyd Gaming (BYD) Stock?
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While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One company value investors might notice is Boyd Gaming (BYD - Free Report) . BYD is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 11.66. This compares to its industry's average Forward P/E of 34.45. Over the past year, BYD's Forward P/E has been as high as 12.90 and as low as 9.00, with a median of 11.16.
We should also highlight that BYD has a P/B ratio of 4.93. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 13.55. BYD's P/B has been as high as 5.01 and as low as 3.16, with a median of 4.07, over the past year.
These are only a few of the key metrics included in Boyd Gaming's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, BYD looks like an impressive value stock at the moment.
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Should Value Investors Buy Boyd Gaming (BYD) Stock?
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One company value investors might notice is Boyd Gaming (BYD - Free Report) . BYD is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 11.66. This compares to its industry's average Forward P/E of 34.45. Over the past year, BYD's Forward P/E has been as high as 12.90 and as low as 9.00, with a median of 11.16.
We should also highlight that BYD has a P/B ratio of 4.93. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 13.55. BYD's P/B has been as high as 5.01 and as low as 3.16, with a median of 4.07, over the past year.
These are only a few of the key metrics included in Boyd Gaming's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, BYD looks like an impressive value stock at the moment.