Boyd Gaming (NYSE:BYD) Research Coverage Started at Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of Boyd Gaming (NYSE:BYDGet Rating) in a report issued on Monday, MarketBeat Ratings reports. The firm set an “underweight” rating and a $54.00 price target on the stock. Morgan Stanley’s target price suggests a potential downside of 11.20% from the stock’s current price.

Several other brokerages have also recently weighed in on BYD. Wells Fargo & Company reduced their price objective on shares of Boyd Gaming from $77.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. JMP Securities boosted their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the company a “market outperform” rating in a report on Wednesday, October 26th. Susquehanna boosted their target price on shares of Boyd Gaming from $68.00 to $72.00 in a report on Wednesday, October 26th. Susquehanna Bancshares boosted their target price on shares of Boyd Gaming from $68.00 to $72.00 in a report on Wednesday, October 26th. Finally, CBRE Group restated a “hold” rating and issued a $60.00 target price on shares of Boyd Gaming in a report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Boyd Gaming presently has an average rating of “Moderate Buy” and an average price target of $70.77.

Boyd Gaming Stock Performance

Shares of Boyd Gaming stock opened at $60.81 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.83. Boyd Gaming has a twelve month low of $46.10 and a twelve month high of $72.72. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.82 and a beta of 1.84. The company’s fifty day moving average is $53.93 and its 200 day moving average is $54.35.

Boyd Gaming (NYSE:BYDGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. Boyd Gaming had a net margin of 16.41% and a return on equity of 41.21%. The company had revenue of $877.26 million for the quarter, compared to analysts’ expectations of $859.03 million. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Boyd Gaming’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Boyd Gaming will post 5.76 EPS for the current year.

Insider Buying and Selling

In related news, VP William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $60.08, for a total value of $1,201,600.00. Following the sale, the vice president now owns 30,634 shares in the company, valued at approximately $1,840,490.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP William R. Boyd sold 20,000 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $60.08, for a total value of $1,201,600.00. Following the sale, the vice president now owns 30,634 shares in the company, valued at approximately $1,840,490.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marianne Boyd Johnson sold 100,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $57.94, for a total transaction of $5,794,000.00. Following the completion of the sale, the insider now owns 1,680,774 shares in the company, valued at approximately $97,384,045.56. The disclosure for this sale can be found here. Insiders have sold 284,276 shares of company stock worth $16,442,312 in the last quarter. Insiders own 28.41% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC grew its position in Boyd Gaming by 3.9% in the 1st quarter. Great Lakes Advisors LLC now owns 4,685 shares of the company’s stock worth $308,000 after purchasing an additional 174 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Boyd Gaming by 50.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Securian Asset Management Inc. grew its position in Boyd Gaming by 2.8% in the 3rd quarter. Securian Asset Management Inc. now owns 7,414 shares of the company’s stock worth $353,000 after purchasing an additional 202 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Boyd Gaming by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 33,093 shares of the company’s stock worth $2,177,000 after purchasing an additional 243 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Boyd Gaming by 3.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,484 shares of the company’s stock worth $357,000 after purchasing an additional 253 shares in the last quarter. 92.40% of the stock is owned by institutional investors.

About Boyd Gaming

(Get Rating)

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 December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

See Also

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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