Brokerages Set Boyd Gaming Co. (NYSE:BYD) Price Target at $66.77

Shares of Boyd Gaming Co. (NYSE:BYD) have earned an average rating of “Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $69.42.

A number of equities research analysts recently issued reports on BYD shares. Truist Securities upped their price objective on shares of Boyd Gaming from $73.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Truist upped their target price on shares of Boyd Gaming from $73.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $78.00 target price on shares of Boyd Gaming in a research report on Wednesday, July 28th. Wells Fargo & Company initiated coverage on shares of Boyd Gaming in a research report on Tuesday, September 14th. They issued an “overweight” rating and a $92.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Boyd Gaming from $78.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th.

Shares of BYD traded up $0.15 during mid-day trading on Friday, reaching $64.29. The stock had a trading volume of 874,403 shares, compared to its average volume of 1,214,081. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.89 and a quick ratio of 0.86. Boyd Gaming has a 52-week low of $28.00 and a 52-week high of $71.00. The business’s fifty day moving average is $59.30 and its 200 day moving average is $61.07. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 0.31 and a beta of 2.19.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Monday, July 26th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.71. Boyd Gaming had a net margin of 11.49% and a return on equity of 31.63%. The firm had revenue of $893.20 million during the quarter, compared to analyst estimates of $806.82 million. During the same quarter in the prior year, the firm posted ($0.98) earnings per share. Boyd Gaming’s quarterly revenue was up 344.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Boyd Gaming will post 4.68 EPS for the current fiscal year.

In related news, CEO Keith Smith sold 70,418 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $57.92, for a total value of $4,078,610.56. Following the sale, the chief executive officer now owns 1,226,958 shares of the company’s stock, valued at $71,065,407.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen S. Thompson sold 11,962 shares of the firm’s stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $60.12, for a total transaction of $719,155.44. Following the completion of the sale, the executive vice president now directly owns 73,515 shares in the company, valued at approximately $4,419,721.80. The disclosure for this sale can be found here. Insiders have sold 112,380 shares of company stock worth $6,523,966 in the last three months. Corporate insiders own 27.94% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in Boyd Gaming by 85.9% in the second quarter. IFP Advisors Inc now owns 714 shares of the company’s stock valued at $42,000 after purchasing an additional 330 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Boyd Gaming in the first quarter valued at approximately $60,000. Advisors Asset Management Inc. increased its stake in Boyd Gaming by 240.4% in the first quarter. Advisors Asset Management Inc. now owns 1,103 shares of the company’s stock valued at $65,000 after purchasing an additional 779 shares during the last quarter. Captrust Financial Advisors increased its stake in Boyd Gaming by 174.4% in the first quarter. Captrust Financial Advisors now owns 1,372 shares of the company’s stock valued at $81,000 after purchasing an additional 872 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Boyd Gaming in the second quarter valued at approximately $116,000. 64.57% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following segments: Las Vegas Locals, Downtown Las Vegas and Midwest & South. The Las Vegas Locals segment consists of casinos that serve the resident population of the Las Vegas metropolitan area.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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