Bank of America Increases Boyd Gaming (NYSE:BYD) Price Target to $72.00

Boyd Gaming (NYSE:BYD) had its target price increased by research analysts at Bank of America from $68.00 to $72.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 15.38% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Macquarie lowered their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Raymond James started coverage on shares of Boyd Gaming in a research report on Tuesday, May 21st. They set an “outperform” rating and a $67.00 price target on the stock. Morgan Stanley upgraded shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $66.00 to $74.00 in a report on Wednesday, September 4th. Finally, StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $89.31.

Boyd Gaming Trading Up 1.5 %

Shares of NYSE:BYD traded up $0.95 during trading on Tuesday, reaching $62.40. The company’s stock had a trading volume of 552,763 shares, compared to its average volume of 941,552. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $68.46. The firm’s 50 day simple moving average is $58.53 and its two-hundred day simple moving average is $58.40. The stock has a market capitalization of $5.92 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 8.56 and a beta of 1.57.

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

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in Boyd Gaming during the second quarter worth approximately $2,010,000. Creative Planning grew its stake in Boyd Gaming by 61.3% during the second quarter. Creative Planning now owns 7,959 shares of the company’s stock worth $439,000 after buying an additional 3,025 shares during the period. Algert Global LLC boosted its stake in shares of Boyd Gaming by 61.5% in the second quarter. Algert Global LLC now owns 50,103 shares of the company’s stock valued at $2,761,000 after purchasing an additional 19,088 shares during the period. Long Pond Capital LP purchased a new position in shares of Boyd Gaming in the second quarter valued at $20,440,000. Finally, AQR Capital Management LLC boosted its stake in shares of Boyd Gaming by 36.9% in the second quarter. AQR Capital Management LLC now owns 6,495 shares of the company’s stock valued at $357,000 after purchasing an additional 1,749 shares during the period. 76.81% of the stock is currently owned by hedge funds and other 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.