Boyd Gaming (NYSE:BYD) Price Target Raised to $75.00

Boyd Gaming (NYSE:BYD - Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $71.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 13.50% from the stock's previous close.

Other equities analysts have also issued reports about the company. Morgan Stanley raised Boyd Gaming from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $66.00 to $74.00 in a research note on Wednesday, September 4th. Barclays increased their price target on Boyd Gaming from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday. StockNews.com raised Boyd Gaming from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Macquarie decreased their price target on Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Finally, Stifel Nicolaus increased their price target on Boyd Gaming from $65.00 to $67.00 and gave the company a "hold" rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Boyd Gaming has a consensus rating of "Moderate Buy" and an average price target of $89.77.

Boyd Gaming Stock Performance

Shares of NYSE:BYD traded up $0.72 during trading on Thursday, hitting $66.08. 607,920 shares of the company traded hands, compared to its average volume of 919,013. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 11.86 and a beta of 1.57. The business's fifty day moving average is $61.41 and its 200-day moving average is $58.52. Boyd Gaming has a one year low of $49.34 and a one year high of $68.46. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $967.50 million during the quarter, compared to analyst estimates of $909.49 million. During the same period in the prior year, the company posted $1.58 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,423,498 shares of the company's stock, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,423,498 shares of the company's stock, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the sale, the director now directly owns 1,096 shares of the company's stock, valued at approximately $66,154.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 27.94% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its position in Boyd Gaming by 14.8% during the first quarter. Retirement Systems of Alabama now owns 223,978 shares of the company's stock worth $15,078,000 after purchasing an additional 28,844 shares during the period. Sei Investments Co. boosted its position in Boyd Gaming by 14.7% during the first quarter. Sei Investments Co. now owns 398,823 shares of the company's stock worth $26,849,000 after purchasing an additional 51,252 shares during the period. Alaska Permanent Fund Corp lifted its holdings in shares of Boyd Gaming by 301.7% during the first quarter. Alaska Permanent Fund Corp now owns 28,120 shares of the company's stock worth $1,893,000 after buying an additional 21,120 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Boyd Gaming during the first quarter worth approximately $930,000. Finally, Banco Santander S.A. lifted its holdings in shares of Boyd Gaming by 34.0% during the first quarter. Banco Santander S.A. now owns 187,492 shares of the company's stock worth $12,622,000 after buying an additional 47,606 shares during the last quarter. 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.