Boyd Gaming (NYSE:BYD) Price Target Increased to $70.00 by Analysts at Barclays

Boyd Gaming (NYSE:BYD) had its target price boosted by analysts at Barclays from $68.00 to $70.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 6.66% from the company’s previous close.

Several other analysts also recently weighed in on BYD. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley upgraded shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th. Macquarie decreased their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.46.

Boyd Gaming Stock Up 0.4 %

Shares of BYD stock traded up $0.27 during trading hours on Thursday, reaching $65.63. 66,835 shares of the company’s stock were exchanged, compared to its average volume of 916,321. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 11.78 and a beta of 1.57. Boyd Gaming has a fifty-two week low of $49.34 and a fifty-two week high of $68.46. The stock’s 50 day moving average is $61.22 and its 200-day moving average is $58.46.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results 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. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The business had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. During the same quarter in the prior year, the business posted $1.58 EPS. Boyd Gaming’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts predict that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 in the company, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s 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 completion of the transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently made changes to their positions in BYD. Retirement Systems of Alabama boosted its stake in Boyd Gaming by 14.8% during the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after buying an additional 28,844 shares during the last quarter. Sei Investments Co. raised its stake in Boyd Gaming by 14.7% during the first quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after purchasing an additional 51,252 shares during the period. Alaska Permanent Fund Corp boosted its holdings in Boyd Gaming by 301.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company’s stock valued at $1,893,000 after purchasing an additional 21,120 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Boyd Gaming in the 1st quarter valued at approximately $930,000. Finally, Banco Santander S.A. increased its holdings in shares of Boyd Gaming by 34.0% during the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock worth $12,622,000 after buying an additional 47,606 shares during the last quarter. 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.