Boyd Gaming (NYSE:BYD) PT Lowered to $75.00

Boyd Gaming (NYSE:BYD) had its price objective lowered by equities researchers at Truist Financial from $80.00 to $75.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 40.87% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Susquehanna reiterated a “neutral” rating and set a $75.00 price objective (down previously from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 price target on shares of Boyd Gaming in a research report on Friday, January 5th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Hold” and an average price target of $73.30.

Boyd Gaming Trading Down 15.3 %

Shares of BYD stock traded down $9.65 during mid-day trading on Friday, hitting $53.24. The company’s stock had a trading volume of 3,946,847 shares, compared to its average volume of 773,667. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a market cap of $5.10 billion, a PE ratio of 8.66, a P/E/G ratio of 2.98 and a beta of 1.60. The company’s fifty day simple moving average is $64.19 and its 200-day simple moving average is $62.06. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The firm had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. During the same quarter in the previous year, the business earned $1.72 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $63.92, for a total value of $4,794,000.00. Following the completion of the sale, the chief executive officer now owns 1,119,625 shares of the company’s stock, valued at $71,566,430. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boyd Gaming news, COO Ted Bogich sold 41,631 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total value of $2,697,272.49. Following the sale, the chief operating officer now directly owns 66,803 shares in the company, valued at $4,328,166.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith Smith sold 75,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $63.92, for a total value of $4,794,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,119,625 shares in the company, valued at approximately $71,566,430. The disclosure for this sale can be found here. In the last three months, insiders have sold 582,910 shares of company stock valued at $37,299,461. 27.94% of the stock is owned by company insiders.

Institutional Trading of Boyd Gaming

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