Truist Financial Raises Boyd Gaming (NYSE:BYD) Price Target to $77.00

Boyd Gaming (NYSE:BYD) had its price objective hoisted by research analysts at Truist Financial from $75.00 to $77.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 19.73% from the stock’s previous close.

BYD has been the topic of a number of other research reports. Wells Fargo & Company lifted their target price on Boyd Gaming from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley boosted 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. Barclays raised their target price on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Macquarie decreased their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $90.23.

Boyd Gaming Stock Up 0.5 %

Shares of BYD stock opened at $64.31 on Wednesday. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The firm has a fifty day moving average of $62.20 and a 200-day moving average of $58.44. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.55 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last released 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. The firm had revenue of $967.50 million during the quarter, compared to analysts’ expectations of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. As a group, equities research analysts predict that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 in the company, valued at $66,154.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction dated 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 in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently modified their holdings of the business. Long Pond Capital LP acquired a new stake in Boyd Gaming in the 2nd quarter worth about $20,440,000. Ariel Investments LLC increased its holdings in shares of Boyd Gaming by 12.5% during the second quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock worth $167,046,000 after purchasing an additional 335,984 shares during the period. Boston Partners raised its position in shares of Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after buying an additional 274,876 shares in the last quarter. Beck Bode LLC acquired a new stake in shares of Boyd Gaming in the first quarter valued at approximately $15,985,000. Finally, Scout Investments Inc. boosted its stake in shares of Boyd Gaming by 68.7% in the first quarter. Scout Investments Inc. now owns 487,441 shares of the company’s stock valued at $32,985,000 after buying an additional 198,490 shares during the period. 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.