Boyd Gaming (NYSE:BYD) Price Target Raised to $78.00

Boyd Gaming (NYSE:BYD) had its price objective raised by equities researchers at Morgan Stanley from $74.00 to $78.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 21.53% from the stock’s previous close.

BYD has been the subject of a number of other reports. Barclays upped their price objective on shares of Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America increased their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Wells Fargo & Company increased their target price on shares of Boyd Gaming from $71.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Macquarie reduced their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Stifel Nicolaus increased their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.08.

Boyd Gaming Trading Up 0.7 %

Shares of BYD stock traded up $0.42 during trading hours on Tuesday, hitting $64.18. 194,089 shares of the company’s stock traded hands, compared to its average volume of 913,330. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $68.46. The stock’s 50 day simple moving average is $61.75 and its 200 day simple moving average is $58.37. The stock has a market cap of $6.09 billion, a PE ratio of 11.49 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The firm had revenue of $967.50 million during the quarter, compared to analysts’ expectations of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. On average, sell-side analysts anticipate that Boyd Gaming will post 6.25 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Trust Company N.A grew its stake in Boyd Gaming by 5.4% during the 3rd quarter. Cetera Trust Company N.A now owns 3,330 shares of the company’s stock valued at $215,000 after purchasing an additional 170 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after buying an additional 189 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in shares of Boyd Gaming by 2.6% in the second quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock worth $444,000 after buying an additional 205 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Boyd Gaming by 4.9% in the first quarter. Lazard Asset Management LLC now owns 5,361 shares of the company’s stock worth $360,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after buying an additional 288 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.