Boyd Gaming (NYSE:BYD) PT Lowered to $75.00

Boyd Gaming (NYSE:BYD) had its price target decreased by Truist Financial from $80.00 to $75.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 41.03% from the stock’s current price.

BYD has been the topic of a number of other research reports. JPMorgan Chase & Co. cut shares of Boyd Gaming from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $67.00 in a research note on Friday. Barclays decreased their price objective on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $69.00 price objective on shares of Boyd Gaming in a research note on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Boyd Gaming from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $78.00 to $71.00 in a research note on Friday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.20.

Boyd Gaming Stock Performance

NYSE:BYD opened at $53.18 on Friday. The firm’s 50-day moving average is $63.98 and its 200-day moving average is $62.03. Boyd Gaming has a 52-week low of $52.42 and a 52-week high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.94 and a beta of 1.60.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Equities research analysts anticipate that Boyd Gaming will post 6.19 earnings per share for the current year.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the completion of the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the completion of the sale, the chairman now owns 1,511,433 shares of the company’s stock, valued at $98,046,658.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 582,910 shares of company stock valued at $37,299,461. Corporate insiders own 27.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its position in Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 211 shares in the last quarter. Rakuten Securities Inc. bought a new position in Boyd Gaming in the fourth quarter valued at $30,000. Allspring Global Investments Holdings LLC grew its position in Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. Principal Securities Inc. acquired a new stake in Boyd Gaming in the fourth quarter valued at $50,000. Finally, Allworth Financial LP lifted its stake in Boyd Gaming by 3,333.3% in the fourth quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock valued at $64,000 after acquiring an additional 1,000 shares during 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.