Boyd Gaming (NYSE:BYD) PT Lowered to $71.00

Boyd Gaming (NYSE:BYD) had its target price dropped by research analysts at Wells Fargo & Company from $82.00 to $71.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 33.51% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Barclays dropped their target price on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday. Morgan Stanley upped their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Boyd Gaming from a “buy” rating to a “hold” rating and decreased their price target for the company from $78.00 to $71.00 in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded shares of Boyd Gaming from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $67.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Boyd Gaming has a consensus rating of “Hold” and an average price target of $72.20.

Boyd Gaming Stock Performance

BYD opened at $53.18 on Friday. 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 50 day simple moving average of $63.98 and a two-hundred day simple moving average of $62.03. Boyd Gaming has a 1-year low of $52.42 and a 1-year high of $73.00. The firm has a market cap of $5.09 billion, a P/E ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last issued 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 net margin of 14.91% and a return on equity of 34.77%. The firm had revenue of $954.41 million during the quarter, compared to analyst estimates of $928.04 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. Boyd Gaming’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts forecast that Boyd Gaming will post 6.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A. Randall Thoman sold 2,500 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 582,910 shares of company stock valued at $37,299,461. 27.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BYD. Oak Thistle LLC bought a new position in shares of Boyd Gaming in the third quarter worth about $805,000. Linden Thomas Advisory Services LLC grew its holdings in shares of Boyd Gaming by 12.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 12,738 shares of the company’s stock worth $775,000 after purchasing an additional 1,392 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Boyd Gaming by 17.6% in the third quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock worth $7,032,000 after purchasing an additional 17,321 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Boyd Gaming in the third quarter worth about $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Boyd Gaming by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock worth $917,000 after purchasing an additional 1,795 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.