Morgan Stanley Issues Pessimistic Forecast for Boyd Gaming (NYSE:BYD) Stock Price

Boyd Gaming (NYSE:BYD - Get Free Report) had its price target dropped by investment analysts at Morgan Stanley from $75.00 to $72.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 12.87% from the company's previous close.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus raised their target price on Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and boosted their price objective for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Barclays increased their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Truist Financial reduced their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Argus upgraded Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Boyd Gaming currently has an average rating of "Moderate Buy" and a consensus target price of $94.27.

Boyd Gaming Stock Down 1.4 %

Boyd Gaming stock traded down $0.89 during midday trading on Wednesday, hitting $63.79. 1,141,407 shares of the stock were exchanged, compared to its average volume of 979,130. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $80.50. The business's 50-day moving average price is $69.58 and its 200-day moving average price is $71.12.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, research analysts expect that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the sale, the director now owns 4,852 shares of the company's stock, valued at $365,258.56. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BYD. GAMMA Investing LLC boosted its position in Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $33,000 after buying an additional 148 shares during the period. UMB Bank n.a. grew its stake in shares of Boyd Gaming by 80.3% in the fourth quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the last quarter. Cetera Trust Company N.A increased its holdings in Boyd Gaming by 6.2% during the 4th quarter. Cetera Trust Company N.A now owns 3,535 shares of the company's stock valued at $256,000 after purchasing an additional 205 shares during the period. State of Alaska Department of Revenue raised its position in Boyd Gaming by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock valued at $3,143,000 after purchasing an additional 205 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after buying an additional 273 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

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.