Boyd Gaming (NYSE:BYD) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Boyd Gaming (NYSE:BYD) in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $85.00 target price on the stock.

Several other research analysts have also recently weighed in on BYD. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Macquarie reissued a “neutral” rating and issued a $90.00 price target on shares of Boyd Gaming in a report on Friday, October 24th. Raymond James Financial reaffirmed an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. Finally, Morgan Stanley upped their target price on shares of Boyd Gaming from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.83.

Boyd Gaming Trading Up 1.9%

Boyd Gaming stock opened at $78.98 on Tuesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86. Boyd Gaming has a fifty-two week low of $58.94 and a fifty-two week high of $88.49. The stock has a market cap of $6.17 billion, a P/E ratio of 3.45, a PEG ratio of 2.02 and a beta of 1.31. The firm’s fifty day moving average price is $82.51 and its 200-day moving average price is $80.72.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a return on equity of 41.97% and a net margin of 46.02%.The business had revenue of $707.32 million during the quarter. Equities research analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boyd Gaming news, CEO Keith Smith sold 25,000 shares of Boyd Gaming stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $85.21, for a total value of $2,130,250.00. Following the transaction, the chief executive officer directly owned 1,046,689 shares of the company’s stock, valued at $89,188,369.69. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Josh Hirsberg sold 40,035 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $85.41, for a total value of $3,419,389.35. Following the completion of the sale, the chief financial officer owned 420,185 shares of the company’s stock, valued at $35,888,000.85. The trade was a 8.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 185,035 shares of company stock valued at $15,818,839 in the last 90 days. 27.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Boyd Gaming by 219.8% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after acquiring an additional 255 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Boyd Gaming during the 2nd quarter valued at about $39,000. True Wealth Design LLC raised its position in Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company’s stock valued at $46,000 after purchasing an additional 329 shares during the last quarter. Finally, SJS Investment Consulting Inc. purchased a new stake in Boyd Gaming in the 3rd quarter worth approximately $48,000. Institutional investors own 76.81% of the company’s stock.

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.