Boyd Gaming (NYSE:BYD) Price Target Cut to $65.00 by Analysts at Stifel Nicolaus

Boyd Gaming (NYSE:BYD) had its price objective decreased by Stifel Nicolaus from $71.00 to $65.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 22.09% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Truist Financial cut their price objective on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday. Susquehanna reiterated a “neutral” rating and issued a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Morgan Stanley lifted their price objective on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered Boyd Gaming from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $78.00 to $71.00 in a research report on Friday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.30.

Boyd Gaming Stock Performance

BYD stock traded down $9.65 during midday trading on Friday, hitting $53.24. The stock had a trading volume of 3,946,847 shares, compared to its average volume of 773,667. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 2.98 and a beta of 1.60. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The stock has a 50-day simple moving average of $64.19 and a 200 day simple moving average of $62.06. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million during the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.72 earnings per share. As a group, 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 Boyd Gaming news, CEO Keith Smith sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $63.92, for a total value of $4,794,000.00. Following the transaction, the chief executive officer now directly owns 1,119,625 shares of the company’s stock, valued at approximately $71,566,430. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Keith Smith sold 75,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $63.92, for a total transaction of $4,794,000.00. Following the sale, the chief executive officer now directly owns 1,119,625 shares of the company’s stock, valued at approximately $71,566,430. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the sale, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Insiders have sold a total of 582,910 shares of company stock valued at $37,299,461 in the last ninety days. 27.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Boyd Gaming

Several large investors have recently bought and sold shares of BYD. Oak Thistle LLC acquired a new stake in Boyd Gaming in the third quarter valued at about $805,000. Linden Thomas Advisory Services LLC boosted its stake in shares of Boyd Gaming by 12.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,738 shares of the company’s stock valued at $775,000 after purchasing an additional 1,392 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Boyd Gaming by 17.6% during the third quarter. Raymond James & Associates now owns 115,605 shares of the company’s stock valued at $7,032,000 after purchasing an additional 17,321 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Boyd Gaming during the third quarter valued at about $1,898,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Boyd Gaming by 13.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,073 shares of the company’s stock worth $917,000 after acquiring an additional 1,795 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

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.