Boyd Gaming (NYSE:BYD) Price Target Cut to $75.00 by Analysts at Truist Financial

Boyd Gaming (NYSE:BYD) had its target price decreased by stock analysts at Truist Financial from $80.00 to $75.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 40.87% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Barclays dropped their price objective on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho reduced their price target on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley increased their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Susquehanna reissued a “neutral” rating and issued a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Boyd Gaming presently has a consensus rating of “Hold” and a consensus price target of $73.30.

Boyd Gaming Stock Performance

BYD stock traded down $9.65 during midday trading on Friday, reaching $53.24. 3,946,847 shares of the company’s stock traded hands, compared to its average volume of 773,667. The firm has a market capitalization of $5.10 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 2.98 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The company has a 50-day moving average price of $64.19 and a two-hundred day moving average price of $62.06.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same period in the prior year, the firm earned $1.72 earnings per share. Boyd Gaming’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Boyd Gaming will post 6.19 EPS for the current year.

Insider Transactions at Boyd Gaming

In other news, VP William R. Boyd sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $64.04, for a total transaction of $3,202,000.00. Following the transaction, the vice president now directly owns 1,617,970 shares of the company’s stock, valued at approximately $103,614,798.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Boyd Gaming news, VP William R. Boyd sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $64.04, for a total value of $3,202,000.00. Following the completion of the sale, the vice president now owns 1,617,970 shares of the company’s stock, valued at $103,614,798.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of Boyd Gaming stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.87, for a total transaction of $5,037,869.07. Following the transaction, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 582,910 shares of company stock worth $37,299,461. Company insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG boosted its position in shares of Boyd Gaming by 23.3% during the 3rd quarter. Deutsche Bank AG now owns 230,397 shares of the company’s stock valued at $14,015,000 after purchasing an additional 43,578 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Boyd Gaming during the fourth quarter worth $117,720,000. Sei Investments Co. raised its holdings in shares of Boyd Gaming by 8.6% in the third quarter. Sei Investments Co. now owns 243,365 shares of the company’s stock valued at $14,804,000 after buying an additional 19,256 shares during the last quarter. UBS Group AG raised its holdings in Boyd Gaming by 4.9% during the 3rd quarter. UBS Group AG now owns 274,235 shares of the company’s stock worth $16,682,000 after purchasing an additional 12,798 shares during the last quarter. Finally, Black Diamond Capital Management L.L.C. acquired a new position in shares of Boyd Gaming during the 3rd quarter worth about $4,988,000. Institutional investors and hedge funds 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.