Wells Fargo & Company Increases Boyd Gaming (NYSE:BYD) Price Target to $79.00

Boyd Gaming (NYSE:BYD) had its price objective lifted by equities researchers at Wells Fargo & Company from $75.00 to $79.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.90% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Stifel Nicolaus boosted their price objective on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Bank of America boosted their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Truist Financial boosted their price objective on Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Macquarie reduced their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $69.36 on Friday. 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 business has a 50 day moving average of $62.42 and a two-hundred day moving average of $58.40. Boyd Gaming has a 52 week low of $49.34 and a 52 week high of $71.00. The company has a market cap of $6.58 billion, a P/E ratio of 12.45 and a beta of 1.57.

Boyd Gaming (NYSE:BYD) last issued its earnings results 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 return on equity of 34.29% and a net margin of 13.32%. The company had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same period in the previous year, the firm posted $1.58 earnings per share. Boyd Gaming’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Boyd Gaming will post 6.25 EPS for the current year.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value 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 $85,737,284.54. This represents 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 Trading of Boyd Gaming

Hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama lifted its holdings in shares of Boyd Gaming by 14.8% in the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock valued at $15,078,000 after purchasing an additional 28,844 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Boyd Gaming by 14.7% in the first quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock valued at $26,849,000 after purchasing an additional 51,252 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Boyd Gaming in the first quarter valued at $930,000. Banco Santander S.A. lifted its holdings in shares of Boyd Gaming by 34.0% in the first quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock valued at $12,622,000 after purchasing an additional 47,606 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Boyd Gaming by 103.1% in the first quarter. Comerica Bank now owns 42,898 shares of the company’s stock valued at $2,888,000 after purchasing an additional 21,772 shares in the last quarter. Hedge funds and other 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.