Stifel Nicolaus Increases Boyd Gaming (NYSE:BYD) Price Target to $74.00

Boyd Gaming (NYSE:BYD) had its price objective boosted by research analysts at Stifel Nicolaus from $67.00 to $74.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 6.69% from the company’s previous close.

A number of other equities analysts have also recently issued reports on BYD. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley upped their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Macquarie dropped their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Truist Financial upped their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays upped 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 note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and an average price target of $91.38.

Boyd Gaming Stock Up 7.9 %

NYSE:BYD opened at $69.36 on Friday. The company has a market capitalization of $6.58 billion, a PE ratio of 12.45 and a beta of 1.57. The firm’s 50-day moving average price is $62.42 and its 200-day moving average price is $58.40. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $71.00. 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 announced its quarterly 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 company had revenue of $967.50 million for the quarter, compared to analysts’ expectations of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. Boyd Gaming’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 EPS. On average, equities analysts predict that Boyd Gaming will post 6.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction that occurred 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 owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Boyd Gaming 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 sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now owns 1,096 shares in the company, valued at approximately $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 currently owned by insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its stake in Boyd Gaming by 2.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 679,178 shares of the company’s stock worth $42,523,000 after acquiring an additional 16,159 shares during the period. State of Alaska Department of Revenue raised its position in shares of Boyd Gaming by 1.1% during the third quarter. State of Alaska Department of Revenue now owns 48,033 shares of the company’s stock valued at $3,105,000 after buying an additional 540 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Boyd Gaming during the third quarter valued at approximately $241,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Boyd Gaming during the third quarter valued at approximately $245,000. Finally, International Assets Investment Management LLC raised its position in shares of Boyd Gaming by 4,816.4% during the third quarter. International Assets Investment Management LLC now owns 184,560 shares of the company’s stock valued at $119,320,000 after buying an additional 180,806 shares during the last quarter. Institutional investors 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.