Boyd Gaming (NYSE:BYD) Price Target Cut to $65.00 by Analysts at Stifel Nicolaus

Boyd Gaming (NYSE:BYD) had its price objective dropped by equities research analysts at Stifel Nicolaus from $71.00 to $65.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 22.09% from the stock’s current price.

A number of other analysts have also recently weighed in on BYD. Barclays reduced their price objective on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday. Wells Fargo & Company upped their target price on shares of Boyd Gaming from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Morgan Stanley upped their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. cut shares of Boyd Gaming from an “overweight” rating to a “neutral” rating and cut their target price for the company from $80.00 to $67.00 in a research note on Friday. Finally, Mizuho cut their target price on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.30.

Boyd Gaming Stock Down 15.3 %

BYD traded down $9.65 on Friday, reaching $53.24. 3,946,847 shares of the company traded hands, compared to its average volume of 773,667. The stock’s 50 day moving average price is $64.19 and its 200-day moving average price is $62.06. Boyd Gaming has a 52-week low of $52.42 and a 52-week high of $73.00. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 2.98 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The firm had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. During the same period in the previous year, the company earned $1.72 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Insider Activity at Boyd Gaming

In other news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares of the company’s stock, valued at $596,817,882.01. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 in the last ninety days. Company insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds have recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. acquired a new stake in shares of Boyd Gaming during the first quarter worth $1,220,000. Assenagon Asset Management S.A. acquired a new stake in shares of Boyd Gaming during the first quarter worth $4,408,000. Louisiana State Employees Retirement System lifted its holdings in shares of Boyd Gaming by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock worth $1,346,000 after buying an additional 500 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Boyd Gaming by 1.0% during the first quarter. Amalgamated Bank now owns 47,733 shares of the company’s stock worth $3,213,000 after buying an additional 486 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

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.