Barclays Boosts Boyd Gaming (NYSE:BYD) Price Target to $70.00

Boyd Gaming (NYSE:BYD) had its price target upped by analysts at Barclays from $68.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 7.74% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Macquarie lowered their target price 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. Stifel Nicolaus raised their target price on Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday, July 26th. Morgan Stanley upgraded Boyd Gaming from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $66.00 to $74.00 in a research note on Wednesday, September 4th. Finally, Bank of America raised their price objective on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Boyd Gaming Price Performance

BYD opened at $64.97 on Thursday. The stock has a fifty day moving average price of $61.59 and a 200 day moving average price of $58.50. 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 1 year low of $49.34 and a 1 year high of $68.46. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 11.66 and a beta of 1.57.

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

Insider Activity

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

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the 2nd quarter worth about $29,000. Allspring Global Investments Holdings LLC grew its stake in shares of Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after purchasing an additional 288 shares in the last quarter. EntryPoint Capital LLC bought a new position in Boyd Gaming in the 1st quarter worth approximately $90,000. Finally, Covestor Ltd lifted its holdings in Boyd Gaming by 132.6% during the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock worth $117,000 after buying an additional 993 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.