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

Boyd Gaming (NYSE:BYD) had its target price upped by equities researchers at Wells Fargo & Company from $75.00 to $79.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.90% from the stock’s current price.

Several other equities analysts also recently commented on BYD. Macquarie lowered their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Bank of America increased their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Truist Financial increased their target price on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus increased their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.38.

Boyd Gaming Trading Up 7.9 %

NYSE BYD opened at $69.36 on Friday. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $71.00. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $6.58 billion, a PE ratio of 12.45 and a beta of 1.57. The firm’s fifty day simple moving average is $62.42 and its 200-day simple moving average is $58.40.

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

Insider Activity at Boyd Gaming

In related news, 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 completion of the sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. 27.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ariel Investments LLC lifted its stake in Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after purchasing an additional 335,984 shares during the period. Boston Partners increased its holdings in shares of Boyd Gaming by 10.0% during 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 increased its holdings in shares of Boyd Gaming by 4.0% during the first quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock worth $127,864,000 after buying an additional 73,491 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Boyd Gaming by 19.7% during the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock worth $63,349,000 after buying an additional 189,226 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Boyd Gaming by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after buying an additional 3,087 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.