Boyd Gaming (NYSE:BYD) Price Target Increased to $74.00 by Analysts at Stifel Nicolaus

Boyd Gaming (NYSE:BYD) had its target price lifted by equities researchers at Stifel Nicolaus from $67.00 to $74.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 7.86% from the stock’s current price.

BYD has been the topic of several other reports. Macquarie lowered their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial upped their price target on Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America lifted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Barclays increased their price objective on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.23.

Boyd Gaming Trading Up 6.7 %

Shares of NYSE BYD traded up $4.30 during trading hours on Friday, hitting $68.61. The company’s stock had a trading volume of 747,113 shares, compared to its average volume of 913,215. The business has a 50-day simple moving average of $62.20 and a 200-day simple moving average of $58.44. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 12.32 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $70.34.

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

Insider Transactions at Boyd Gaming

In other Boyd Gaming 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 value of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christine J. Spadafor sold 1,242 shares of the 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 sale, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming 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 transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The trade was 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.

Hedge Funds Weigh In On Boyd Gaming

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position 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 valued at $35,000 after acquiring an additional 189 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at approximately $29,000. Blue Trust Inc. lifted its holdings in shares of Boyd Gaming by 58.2% in the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after acquiring an additional 288 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Boyd Gaming during the 1st quarter worth approximately $90,000. Finally, Covestor Ltd raised its position in Boyd Gaming by 132.6% in the first quarter. Covestor Ltd now owns 1,742 shares of the company’s stock valued at $117,000 after purchasing an additional 993 shares during the period. 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.