Barclays Cuts Boyd Gaming (NYSE:BYD) Price Target to $68.00

Boyd Gaming (NYSE:BYD) had its price objective decreased by stock analysts at Barclays from $70.00 to $68.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 27.29% from the company’s current price.

Several other research analysts have also issued reports on BYD. Truist Financial increased their price target on shares of Boyd Gaming from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Mizuho dropped their price objective on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 price target on shares of Boyd Gaming in a research report on Friday, January 5th. StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lowered Boyd Gaming from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $67.00 in a report on Friday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.20.

Boyd Gaming Stock Performance

NYSE BYD traded down $9.47 on Friday, reaching $53.42. 2,529,112 shares of the stock were exchanged, compared to its average volume of 755,037. The firm has a market capitalization of $5.11 billion, a PE ratio of 8.76, a PEG ratio of 2.98 and a beta of 1.60. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The company’s 50-day simple moving average is $64.19 and its two-hundred day simple moving average is $62.06. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company had revenue of $960.52 million during the quarter, compared to analysts’ expectations of $947.26 million. Analysts expect that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now directly owns 9,358,913 shares of the company’s stock, valued at $596,817,882.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Keith Smith sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $63.92, for a total transaction of $4,794,000.00. Following the transaction, the chief executive officer now owns 1,119,625 shares in the company, valued at $71,566,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the transaction, the insider now owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Insiders sold 582,910 shares of company stock valued at $37,299,461 over the last quarter. 27.94% of the stock is owned by company insiders.

Institutional Trading of Boyd Gaming

Institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in Boyd Gaming by 105.5% in the third quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after acquiring an additional 211 shares during the period. Rakuten Securities Inc. purchased a new position in Boyd Gaming during the fourth quarter worth $30,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares in the last quarter. Principal Securities Inc. purchased a new stake in Boyd Gaming in the fourth quarter valued at approximately $50,000. Finally, Allworth Financial LP raised its stake in shares of Boyd Gaming by 3,333.3% during the 4th quarter. Allworth Financial LP now owns 1,030 shares of the company’s stock worth $64,000 after buying an additional 1,000 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.