Boyd Gaming (NYSE:BYD) PT Lowered to $68.00

Boyd Gaming (NYSE:BYD) had its target price reduced by equities research analysts at Barclays from $70.00 to $68.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 27.87% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Truist Financial increased their target price on Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Susquehanna reaffirmed a “neutral” rating and issued a $75.00 price target (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. JPMorgan Chase & Co. cut 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 report on Friday. Finally, 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 report on Friday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.20.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $53.18 on Friday. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The business’s 50 day simple moving average is $63.98 and its 200 day simple moving average is $62.03. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (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 return on equity of 34.77% and a net margin of 14.91%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 earnings per share. Sell-side analysts forecast that Boyd Gaming will post 6.19 EPS for the current year.

Insider Activity at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the transaction, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through this link. In other news, COO Ted Bogich sold 41,631 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the transaction, the chief operating officer now directly owns 66,803 shares of the company’s stock, valued at $4,328,166.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock valued at $37,299,461 over the last 90 days. 27.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG grew its stake in shares of Boyd Gaming by 23.3% during the third quarter. Deutsche Bank AG now owns 230,397 shares of the company’s stock valued at $14,015,000 after buying an additional 43,578 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Boyd Gaming during the fourth quarter worth about $117,720,000. Sei Investments Co. boosted its holdings in shares of Boyd Gaming by 8.6% during the third quarter. Sei Investments Co. now owns 243,365 shares of the company’s stock worth $14,804,000 after purchasing an additional 19,256 shares during the period. UBS Group AG boosted its holdings in shares of Boyd Gaming by 4.9% during the third quarter. UBS Group AG now owns 274,235 shares of the company’s stock worth $16,682,000 after purchasing an additional 12,798 shares during the period. Finally, Black Diamond Capital Management L.L.C. purchased a new stake in shares of Boyd Gaming during the third quarter worth about $4,988,000. 76.81% of the stock is 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.