Boyd Gaming (NYSE:BYD) Price Target Cut to $65.00

Boyd Gaming (NYSE:BYD) had its target price dropped by Stifel Nicolaus from $71.00 to $65.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 22.23% from the company’s previous close.

BYD has been the topic of several other reports. Mizuho decreased their price target on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. downgraded shares of Boyd Gaming from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $67.00 in a research note on Friday. Truist Financial decreased their price target on shares of Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Boyd Gaming has a consensus rating of “Hold” and a consensus target price of $72.20.

Boyd Gaming Trading Down 15.4 %

Shares of Boyd Gaming stock opened at $53.18 on Friday. The firm has a market cap of $5.09 billion, a PE ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60. Boyd Gaming has a 1 year low of $52.42 and a 1 year high of $73.00. The company has a 50 day simple moving average of $63.98 and a two-hundred day simple moving average of $62.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million for the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. Analysts expect that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Insider Activity at Boyd Gaming

In related news, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now owns 9,358,913 shares in the company, valued at $596,817,882.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder William S. Boyd sold 125,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the sale, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Keith Smith sold 75,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $63.92, for a total transaction of $4,794,000.00. Following the sale, the chief executive officer now owns 1,119,625 shares in the company, valued at approximately $71,566,430. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock worth $37,299,461 over the last quarter. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

A number of hedge funds have recently modified their holdings of BYD. Parkside Financial Bank & Trust boosted its stake in Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after purchasing an additional 211 shares in the last quarter. Rakuten Securities Inc. bought a new position in Boyd Gaming in the 4th quarter worth about $30,000. Allspring Global Investments Holdings LLC boosted its stake in Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares in the last quarter. Principal Securities Inc. bought a new position in Boyd Gaming in the 4th quarter worth about $50,000. Finally, Allworth Financial LP boosted its stake in Boyd Gaming by 3,333.3% in the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.

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.