Boyd Gaming (NYSE:BYD – Get Rating) had its price target increased by investment analysts at Wells Fargo & Company from $72.00 to $73.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 19.22% from the company's previous close.
BYD has been the topic of several other reports. Truist Financial lifted their price objective on Boyd Gaming from $79.00 to $80.00 in a report on Wednesday, January 11th. Roth Capital initiated coverage on Boyd Gaming in a report on Wednesday, January 18th. They set a "buy" rating and a $70.00 target price on the stock. Credit Suisse Group initiated coverage on Boyd Gaming in a report on Tuesday, January 17th. They set an "outperform" rating and a $82.00 target price on the stock. Susquehanna boosted their target price on Boyd Gaming from $68.00 to $72.00 in a report on Wednesday, October 26th. Finally, Susquehanna Bancshares boosted their target price on Boyd Gaming from $68.00 to $72.00 in a report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.73.
Get Boyd Gaming alerts:Boyd Gaming Trading Up 0.8 %
BYD stock opened at $61.23 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.83. Boyd Gaming has a 12-month low of $46.10 and a 12-month high of $72.72. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.06 and a beta of 1.83. The business's 50-day moving average is $57.94 and its 200 day moving average is $55.50.
Boyd Gaming (NYSE:BYD – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.20. Boyd Gaming had a return on equity of 41.21% and a net margin of 16.41%. The company had revenue of $877.26 million for the quarter, compared to analysts' expectations of $859.03 million. During the same period in the previous year, the firm posted $1.30 EPS. Boyd Gaming's revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Boyd Gaming will post 5.76 EPS for the current fiscal year.Insider Buying and Selling at Boyd Gaming
In other Boyd Gaming news, insider Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $57.94, for a total value of $5,794,000.00. Following the sale, the insider now owns 1,680,774 shares of the company's stock, valued at $97,384,045.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Boyd Gaming news, CFO Josh Hirsberg sold 16,000 shares of the business's stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $61.00, for a total value of $976,000.00. Following the completion of the transaction, the chief financial officer now owns 396,905 shares in the company, valued at $24,211,205. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marianne Boyd Johnson sold 100,000 shares of the business's stock in a transaction on Monday, October 31st. The stock was sold at an average price of $57.94, for a total transaction of $5,794,000.00. Following the completion of the transaction, the insider now owns 1,680,774 shares of the company's stock, valued at approximately $97,384,045.56. The disclosure for this sale can be found here. Insiders have sold a total of 621,286 shares of company stock valued at $36,292,575 over the last quarter. 27.94% of the stock is owned by company insiders.
Hedge Funds Weigh In On Boyd Gaming
Institutional investors have recently modified their holdings of the business. KBC Group NV grew its stake in shares of Boyd Gaming by 62.5% in the second quarter. KBC Group NV now owns 14,889 shares of the company's stock worth $741,000 after acquiring an additional 5,729 shares in the last quarter. Versor Investments LP grew its stake in shares of Boyd Gaming by 200.8% during the second quarter. Versor Investments LP now owns 17,990 shares of the company's stock worth $895,000 after purchasing an additional 12,010 shares in the last quarter. Occudo Quantitative Strategies LP grew its stake in shares of Boyd Gaming by 240.3% during the second quarter. Occudo Quantitative Strategies LP now owns 27,486 shares of the company's stock worth $1,367,000 after purchasing an additional 19,409 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Boyd Gaming during the third quarter worth $1,005,000. Finally, AlphaCrest Capital Management LLC grew its stake in shares of Boyd Gaming by 90.2% during the second quarter. AlphaCrest Capital Management LLC now owns 36,831 shares of the company's stock worth $1,832,000 after purchasing an additional 17,471 shares in the last quarter. Institutional investors and hedge funds own 68.68% of the company's stock.
About Boyd Gaming
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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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