Morgan Stanley Forecasts Strong Price Appreciation for Boyd Gaming (NYSE:BYD) Stock

Boyd Gaming (NYSE:BYD) had its price target boosted by stock analysts at Morgan Stanley from $86.00 to $87.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 0.23% from the company’s current price.

Several other research firms also recently commented on BYD. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a report on Wednesday, December 24th. Mizuho set a $100.00 price target on shares of Boyd Gaming in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Finally, Susquehanna decreased their price target on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.50.

Boyd Gaming Price Performance

NYSE:BYD opened at $86.80 on Wednesday. Boyd Gaming has a one year low of $62.80 and a one year high of $89.96. The company has a market cap of $6.54 billion, a P/E ratio of 3.82, a P/E/G ratio of 1.82 and a beta of 1.19. The firm’s fifty day moving average price is $83.13 and its two-hundred day moving average price is $83.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.52.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $1.88 by $0.33. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Boyd Gaming will post 6.52 earnings per share for the current year.

Insider Activity at Boyd Gaming

In related news, CFO Josh Hirsberg sold 23,924 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the transaction, the chief financial officer directly owned 435,746 shares in the company, valued at approximately $37,413,151.56. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen S. Thompson sold 19,530 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the transaction, the insider owned 22,009 shares in the company, valued at $1,839,732.31. This trade represents a 47.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 73,454 shares of company stock worth $6,231,827. Corporate insiders own 22.82% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Several institutional investors and hedge funds have recently bought and sold shares of BYD. Advisors Asset Management Inc. lifted its position in Boyd Gaming by 56.8% during 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 period. AQR Capital Management LLC lifted its position in Boyd Gaming by 13.9% during the first quarter. AQR Capital Management LLC now owns 9,623 shares of the company’s stock worth $628,000 after purchasing an additional 1,172 shares during the period. Caxton Associates LLP bought a new stake in Boyd Gaming during the first quarter worth about $207,000. M&T Bank Corp bought a new stake in Boyd Gaming during the second quarter worth about $229,000. Finally, Amundi lifted its position in Boyd Gaming by 14,719.0% during the second quarter. Amundi now owns 3,112 shares of the company’s stock worth $253,000 after purchasing an additional 3,091 shares during the period. Institutional investors own 76.81% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.