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

Boyd Gaming (NYSE:BYD) had its price target reduced by equities researchers at Truist Financial from $80.00 to $75.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 41.03% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Susquehanna reissued a “neutral” rating and set a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. JPMorgan Chase & Co. lowered Boyd Gaming from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $67.00 in a research report on Friday. Morgan Stanley increased their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays cut their target price on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 target price 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 issued a buy rating to the company. According to MarketBeat.com, Boyd Gaming currently 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. Boyd Gaming has a fifty-two week low of $52.42 and a fifty-two week high of $73.00. The firm has a market cap of $5.09 billion, a PE ratio of 9.55, a P/E/G ratio of 2.94 and a beta of 1.60. The business’s fifty day moving average is $63.98 and its two-hundred day moving average is $62.03. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last issued its quarterly 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 34.77% and a net margin of 14.91%. The company had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. During the same quarter in the prior year, the company posted $1.72 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Boyd Gaming will post 6.19 earnings per share for the current year.

Insider Activity at Boyd Gaming

In other news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 $256,083.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director A. Randall Thoman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 $256,083.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ted Bogich sold 41,631 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were 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 owns 66,803 shares of the company’s stock, valued at $4,328,166.37. The disclosure for this sale can be found here. In the last three months, insiders sold 582,910 shares of company stock worth $37,299,461. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Several large investors have recently modified their holdings of BYD. Parkside Financial Bank & Trust grew its stake in Boyd Gaming by 105.5% in the third 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. acquired a new position in Boyd Gaming in the fourth quarter worth about $30,000. Allspring Global Investments Holdings LLC grew its stake in Boyd Gaming by 57.4% in the first 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. acquired a new position in Boyd Gaming in the fourth quarter worth about $50,000. Finally, Allworth Financial LP grew its stake in Boyd Gaming by 3,333.3% in the fourth 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. 76.81% of the stock is currently 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.