Boyd Gaming (NYSE:BYD) Given a $40.00 Price Target by Deutsche Bank Analysts

Boyd Gaming (NYSE:BYD) received a $40.00 price objective from investment analysts at Deutsche Bank in a research note issued on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would suggest a potential upside of 52.85% from the stock’s current price.

BYD has been the topic of several other reports. Stifel Nicolaus set a $36.00 target price on shares of Boyd Gaming and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Susquehanna Bancshares started coverage on shares of Boyd Gaming in a research note on Wednesday, July 24th. They issued a “neutral” rating and a $28.00 target price on the stock. Barclays started coverage on shares of Boyd Gaming in a research note on Tuesday, September 3rd. They issued an “equal weight” rating and a $8.00 target price on the stock. ValuEngine raised shares of Boyd Gaming from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Telsey Advisory Group raised shares of Boyd Gaming from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $31.00 to $36.00 in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.13.

Shares of BYD stock traded down $0.06 during trading hours on Tuesday, hitting $26.17. 44,902 shares of the company’s stock were exchanged, compared to its average volume of 1,022,451. The company has a market capitalization of $2.89 billion, a PE ratio of 19.77, a PEG ratio of 1.10 and a beta of 2.17. Boyd Gaming has a 12-month low of $18.98 and a 12-month high of $33.53. The business’s 50 day simple moving average is $24.99 and its 200-day simple moving average is $26.22. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 3.90.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Boyd Gaming had a return on equity of 14.13% and a net margin of 4.18%. The firm had revenue of $846.13 million during the quarter, compared to analysts’ expectations of $839.64 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. Equities analysts anticipate that Boyd Gaming will post 1.72 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in Boyd Gaming by 18.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,613 shares of the company’s stock valued at $97,000 after purchasing an additional 564 shares during the period. Arizona State Retirement System increased its position in Boyd Gaming by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 57,992 shares of the company’s stock valued at $1,562,000 after purchasing an additional 618 shares during the period. LPL Financial LLC increased its position in Boyd Gaming by 4.6% during the 2nd quarter. LPL Financial LLC now owns 15,007 shares of the company’s stock valued at $404,000 after purchasing an additional 655 shares during the period. Nisa Investment Advisors LLC increased its position in Boyd Gaming by 2.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 27,795 shares of the company’s stock valued at $666,000 after purchasing an additional 700 shares during the period. Finally, Stevens Capital Management LP increased its position in Boyd Gaming by 1.8% during the 2nd quarter. Stevens Capital Management LP now owns 40,961 shares of the company’s stock valued at $1,103,000 after purchasing an additional 719 shares during the period. 67.95% of the stock is currently owned by institutional investors and hedge funds.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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