Boyd Gaming (NYSE:BYD) Price Target Cut to $73.00 by Analysts at Barclays

Boyd Gaming (NYSE:BYD - Get Free Report) had its price target cut by investment analysts at Barclays from $78.00 to $73.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential upside of 4.84% from the company's previous close.

BYD has been the subject of several other reports. Truist Financial dropped their target price 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. StockNews.com downgraded shares of Boyd Gaming from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th. Morgan Stanley reduced their target price on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Susquehanna dropped their price target on Boyd Gaming from $77.00 to $75.00 and set a "positive" rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho increased their price objective on Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.73.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock traded up $3.59 during trading on Tuesday, hitting $69.63. The stock had a trading volume of 824,976 shares, compared to its average volume of 1,002,057. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $80.50. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 4.46 and a beta of 1.31. The business's 50-day moving average is $68.58 and its 200 day moving average is $71.05.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, sell-side analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Insider Activity at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm's stock in a transaction dated 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 sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Boyd sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the transaction, the director now directly owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock worth $5,158,490 in the last three months. 27.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its position in Boyd Gaming by 23.9% during the 3rd quarter. Barclays PLC now owns 167,542 shares of the company's stock valued at $10,831,000 after purchasing an additional 32,332 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Boyd Gaming during the 3rd quarter valued at about $64,000. GAMMA Investing LLC increased its position in shares of Boyd Gaming by 47.4% during the fourth 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. Miracle Mile Advisors LLC bought a new position in Boyd Gaming in the fourth quarter worth about $306,000. Finally, Burney Co. raised its stake in Boyd Gaming by 7.7% in the fourth quarter. Burney Co. now owns 29,598 shares of the company's stock worth $2,147,000 after buying an additional 2,125 shares in 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.