Boyd Gaming (NYSE:BYD) PT Raised to $69.00 at JPMorgan Chase & Co.

Boyd Gaming (NYSE:BYD) had its price target increased by research analysts at JPMorgan Chase & Co. from $68.00 to $69.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 0.52% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley increased their price target on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Barclays increased their price target on Boyd Gaming from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Macquarie lowered their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Bank of America increased their price target on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company increased their price target on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Stock Up 7.9 %

Shares of BYD opened at $69.36 on Friday. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $71.00. The company has a market capitalization of $6.58 billion, a PE ratio of 12.45 and a beta of 1.57. The stock has a fifty day simple moving average of $62.42 and a two-hundred day simple moving average of $58.40. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same period last year, the company earned $1.58 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Boyd Gaming will post 6.25 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after acquiring an additional 189 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming during the 2nd quarter worth about $29,000. Blue Trust Inc. raised its position in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after acquiring an additional 288 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Boyd Gaming during the 1st quarter worth about $90,000. Finally, Covestor Ltd raised its position in shares of Boyd Gaming by 132.6% during the 1st quarter. Covestor Ltd now owns 1,742 shares of the company’s stock worth $117,000 after acquiring an additional 993 shares in the last quarter. Institutional investors and hedge funds 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.