Boyd Gaming (NYSE:BYD) PT Raised to $72.00 at Morgan Stanley

Boyd Gaming (NYSE:BYD) had its price objective upped by analysts at Morgan Stanley from $71.00 to $72.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 10.63% from the stock’s previous close.

Several other analysts have also recently issued reports on BYD. Stifel Nicolaus restated a “hold” rating and set a $69.00 target price on shares of Boyd Gaming in a research report on Friday, January 5th. Barclays increased their price objective on shares of Boyd Gaming from $66.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Mizuho began coverage on shares of Boyd Gaming in a research report on Tuesday, March 26th. They issued a “buy” rating and a $80.00 price objective on the stock. Truist Financial increased their price objective on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and an average price target of $76.30.

Boyd Gaming Stock Down 2.4 %

Shares of NYSE BYD opened at $65.08 on Tuesday. The firm’s 50-day moving average price is $64.42 and its 200-day moving average price is $61.76. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 3.05 and a beta of 1.60. Boyd Gaming has a 12-month low of $52.42 and a 12-month high of $73.00.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 EPS. On average, equities research analysts anticipate that Boyd Gaming will post 6.21 EPS for the current fiscal year.

Insider Activity

In other news, VP William R. Boyd sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the transaction, the vice president now directly owns 1,617,970 shares in the company, valued at $103,614,798.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the transaction, the insider now directly owns 9,358,913 shares in the company, valued at $596,817,882.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William R. Boyd sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the transaction, the vice president now owns 1,617,970 shares in the company, valued at $103,614,798.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 582,910 shares of company stock worth $37,299,461. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of BYD. HighTower Advisors LLC lifted its position in Boyd Gaming by 9.3% during the first quarter. HighTower Advisors LLC now owns 8,539 shares of the company’s stock valued at $560,000 after acquiring an additional 725 shares during the last quarter. Citigroup Inc. lifted its position in Boyd Gaming by 1.4% during the first quarter. Citigroup Inc. now owns 42,226 shares of the company’s stock valued at $2,778,000 after acquiring an additional 567 shares during the last quarter. Bank of Montreal Can lifted its position in Boyd Gaming by 24.3% during the first quarter. Bank of Montreal Can now owns 10,255 shares of the company’s stock valued at $689,000 after acquiring an additional 2,002 shares during the last quarter. MetLife Investment Management LLC lifted its position in Boyd Gaming by 35.4% during the first quarter. MetLife Investment Management LLC now owns 53,822 shares of the company’s stock valued at $3,540,000 after acquiring an additional 14,078 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Boyd Gaming by 2.3% during the first quarter. Rhumbline Advisers now owns 221,735 shares of the company’s stock valued at $14,586,000 after acquiring an additional 4,888 shares during 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.