Barclays Cuts Boyd Gaming (NYSE:BYD) Price Target to $68.00

Boyd Gaming (NYSE:BYD) had its price target lowered by equities research analysts at Barclays from $70.00 to $68.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 27.29% from the stock’s previous close.

A number of other research firms also recently weighed in on BYD. Stifel Nicolaus reiterated a “hold” rating and set a $69.00 target price on shares of Boyd Gaming in a research report on Friday, January 5th. Truist Financial increased their price target on Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Morgan Stanley raised their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company lifted their price objective on Boyd Gaming from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Mizuho dropped their price target on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming currently has an average rating of “Hold” and an average target price of $74.20.

Boyd Gaming Trading Down 15.1 %

Shares of Boyd Gaming stock traded down $9.47 during trading hours on Friday, hitting $53.42. The company’s stock had a trading volume of 2,529,112 shares, compared to its average volume of 755,037. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market capitalization of $5.11 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 2.98 and a beta of 1.60. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The stock has a 50 day moving average of $64.19 and a 200 day moving average of $62.06.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company had revenue of $960.52 million during the quarter, compared to the consensus estimate of $947.26 million. Analysts predict that Boyd Gaming will post 6.19 earnings per share for the current year.

Insider Buying and Selling

In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the transaction, the insider now directly owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William R. Boyd sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the sale, the vice president now directly owns 1,617,970 shares in the company, valued at approximately $103,614,798.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 582,910 shares of company stock worth $37,299,461. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cascade Investment Advisors Inc. acquired a new stake in shares of Boyd Gaming during the first quarter worth $1,220,000. Assenagon Asset Management S.A. bought a new position in shares of Boyd Gaming during the 1st quarter valued at about $4,408,000. Louisiana State Employees Retirement System boosted its position in shares of Boyd Gaming by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock valued at $1,346,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank lifted its stake in Boyd Gaming by 1.0% during the first quarter. Amalgamated Bank now owns 47,733 shares of the company’s stock valued at $3,213,000 after buying an additional 486 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Boyd Gaming by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock valued at $2,118,000 after buying an additional 264 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

About Boyd Gaming

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.