Boyd Gaming (NYSE:BYD) Price Target Raised to $79.00 at Wells Fargo & Company

Boyd Gaming (NYSE:BYD) had its price objective increased by analysts at Wells Fargo & Company from $75.00 to $79.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 22.84% from the company’s current price.

BYD has been the topic of a number of other reports. Macquarie lowered their target price on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Barclays boosted their target price on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Truist Financial lifted their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley increased their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.54.

Boyd Gaming Trading Up 0.5 %

NYSE:BYD opened at $64.31 on Friday. Boyd Gaming has a 52 week low of $49.34 and a 52 week high of $68.46. The firm has a 50-day moving average price of $62.20 and a two-hundred day moving average price of $58.44. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.79 and a current ratio of 0.83. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 11.55 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. Boyd Gaming’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. On average, equities analysts expect that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now directly owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares in the company, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its holdings in shares of Boyd Gaming by 14.8% during the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after purchasing an additional 28,844 shares during the period. Sei Investments Co. grew its position in shares of Boyd Gaming by 14.7% in the 1st quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock worth $26,849,000 after buying an additional 51,252 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Boyd Gaming in the 1st quarter worth approximately $930,000. Banco Santander S.A. increased its stake in shares of Boyd Gaming by 34.0% during the first quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock valued at $12,622,000 after buying an additional 47,606 shares during the period. Finally, Comerica Bank raised its holdings in shares of Boyd Gaming by 103.1% during the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after acquiring an additional 21,772 shares in the last quarter. 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.