Boyd Gaming (NYSE:BYD) PT Raised to $78.00

Boyd Gaming (NYSE:BYD) had its price target increased by equities researchers at Morgan Stanley from $74.00 to $78.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 21.88% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Barclays raised their price objective on Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America raised their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.23.

Boyd Gaming Price Performance

BYD opened at $64.00 on Tuesday. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $68.46. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 11.49 and a beta of 1.57. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The company has a fifty day simple moving average of $61.91 and a 200 day simple moving average of $58.36.

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 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 company had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same period last year, the firm earned $1.58 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Boyd Gaming will post 6.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was 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 in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 27.94% of the stock is owned by company insiders.

Institutional Trading of Boyd Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Long Pond Capital LP acquired a new position in shares of Boyd Gaming during the second quarter valued at approximately $20,440,000. Ariel Investments LLC raised its position in Boyd Gaming by 12.5% in the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after acquiring an additional 335,984 shares in the last quarter. Boston Partners lifted its holdings in Boyd Gaming by 10.0% in the 1st quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after acquiring an additional 274,876 shares during the last quarter. Beck Bode LLC bought a new position in shares of Boyd Gaming during the 1st quarter valued at about $15,985,000. Finally, Scout Investments Inc. grew its stake in shares of Boyd Gaming by 68.7% in the 1st quarter. Scout Investments Inc. now owns 487,441 shares of the company’s stock worth $32,985,000 after purchasing an additional 198,490 shares during the last quarter. 76.81% of the stock is currently owned by 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.