Boyd Gaming (NYSE:BYD) Price Target Raised to $69.00

Boyd Gaming (NYSE:BYD) had its target price raised by JPMorgan Chase & Co. from $68.00 to $69.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 0.57% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Bank of America boosted their target price on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Barclays upped their price target on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Morgan Stanley increased their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Stifel Nicolaus upped their price target on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.23.

Boyd Gaming Stock Up 6.7 %

Boyd Gaming stock traded up $4.30 during midday trading on Friday, hitting $68.61. 747,113 shares of the stock were exchanged, compared to its average volume of 913,215. The company has a 50 day moving average price of $62.20 and a two-hundred day moving average price of $58.44. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $70.34. The firm has a market cap of $6.51 billion, a P/E ratio of 12.32 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently modified their holdings of the stock. Ariel Investments LLC raised its holdings in shares of Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after purchasing an additional 335,984 shares during the last quarter. Boston Partners increased its position in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after buying an additional 274,876 shares in the last quarter. Bamco Inc. NY raised its stake in Boyd Gaming by 4.0% during the 1st quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock worth $127,864,000 after acquiring an additional 73,491 shares during the period. American Century Companies Inc. lifted its position in shares of Boyd Gaming by 19.7% in the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock valued at $63,349,000 after acquiring an additional 189,226 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Boyd Gaming by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after purchasing an additional 3,087 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

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.