Boyd Gaming (NYSE:BYD) Given New $71.00 Price Target at Barclays

Boyd Gaming (NYSE:BYD) had its price target raised by equities researchers at Barclays from $70.00 to $71.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 3.83% from the company’s current price.

BYD has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Macquarie lowered their price objective 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. Morgan Stanley upped their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday. Truist Financial lifted their target price on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Bank of America increased their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Stock Performance

Shares of BYD traded up $4.07 during mid-day trading on Friday, reaching $68.38. 1,244,524 shares of the company’s stock were exchanged, compared to its average volume of 915,617. The business’s fifty day simple moving average is $62.20 and its 200-day simple moving average is $58.44. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $70.34. The stock has a market capitalization of $6.49 billion, a PE ratio of 12.35 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The company had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. During the same period in the previous year, the business posted $1.58 earnings per share. Boyd Gaming’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Boyd Gaming will post 6.25 earnings per share for the current year.

Insider Buying and Selling at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of Boyd Gaming stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was 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 Investors Weigh In On Boyd Gaming

Several hedge funds have recently made changes to their positions in BYD. AlphaMark Advisors LLC lifted its holdings in shares of Boyd Gaming by 4.5% during the 1st quarter. AlphaMark Advisors LLC now owns 7,858 shares of the company’s stock worth $529,000 after acquiring an additional 341 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Boyd Gaming by 57.4% in the 1st 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 during the last quarter. State of Michigan Retirement System increased its holdings in shares of Boyd Gaming by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 17,024 shares of the company’s stock worth $1,146,000 after buying an additional 400 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Boyd Gaming by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 261,786 shares of the company’s stock worth $17,623,000 after buying an additional 6,442 shares during the period. Finally, Retirement Systems of Alabama raised its position in shares of Boyd Gaming by 14.8% in the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after buying an additional 28,844 shares during the period. 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.