Boyd Gaming (NYSE:BYD) Stock Gets Price Target Trim from Citigroup

Boyd Gaming (NYSE:BYD) had its price objective lowered by equities research analysts at Citigroup from $78.00 to $76.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup‘s price objective would indicate a potential upside of 5.26% from the stock’s current price.

Several other equities research analysts have also commented on the company. Weiss Ratings upgraded Boyd Gaming from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Wells Fargo & Company lowered their target price on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $89.00 to $83.00 in a research note on Monday, October 19th. Stifel Nicolaus cut their price target on Boyd Gaming from $92.00 to $80.00 and set a “hold” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Boyd Gaming from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.46.

Boyd Gaming Trading Up 0.7%

Boyd Gaming stock traded up $0.51 during trading hours on Monday, reaching $72.20. 368,991 shares of the company’s stock were exchanged, compared to its average volume of 984,636. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The firm’s 50 day simple moving average is $74.20 and its 200 day simple moving average is $81.57. Boyd Gaming has a twelve month low of $65.00 and a twelve month high of $91.41. The firm has a market capitalization of $5.25 billion, a PE ratio of 10.91, a PEG ratio of 1.28 and a beta of 1.12.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $1.67 earnings per share for the quarter, hitting the consensus estimate of $1.67. The firm had revenue of $990.46 million during the quarter, compared to analyst estimates of $1 billion. Boyd Gaming had a return on equity of 22.10% and a net margin of 12.29%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $1.72 EPS. Research analysts predict that Boyd Gaming will post 7.10 earnings per share for the current year.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.82% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Several hedge funds and other institutional investors have recently made changes to their positions in BYD. Altshuler Shaham Ltd boosted its stake in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock valued at $37,000 after purchasing an additional 159 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Boyd Gaming by 62.8% in the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after purchasing an additional 203 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Boyd Gaming by 23.0% in the first quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $54,000 after purchasing an additional 122 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Boyd Gaming in the second quarter worth approximately $59,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Boyd Gaming in the second quarter valued at approximately $74,000. 76.81% of the stock is owned by institutional investors.

About Boyd Gaming

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.