Wells Fargo & Company Increases Boyd Gaming (NYSE:BYD) Price Target to $75.00

Boyd Gaming (NYSE:BYD) had its price target lifted by stock analysts 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 15.44% from the stock’s previous close.

A number of other brokerages also recently issued reports on BYD. Stifel Nicolaus increased their price objective on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley upgraded shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $66.00 to $74.00 in a research note on Wednesday, September 4th. Bank of America raised their price target on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Macquarie reduced their price target on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $89.77.

Boyd Gaming Trading Down 1.7 %

Shares of Boyd Gaming stock opened at $64.97 on Thursday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 11.66 and a beta of 1.57. 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 has a 12-month low of $49.34 and a 12-month high of $68.46. The firm’s 50-day moving average price is $61.59 and its two-hundred day moving average price is $58.50.

Boyd Gaming (NYSE:BYD) last announced 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. The firm had revenue of $967.50 million for the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. On average, analysts forecast that Boyd Gaming will post 6.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now 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. 27.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Boyd Gaming by 11,891.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after acquiring an additional 61,599 shares in the last quarter. Raymond James & Associates increased its stake in shares of Boyd Gaming by 0.6% in the 3rd quarter. Raymond James & Associates now owns 67,439 shares of the company’s stock valued at $4,360,000 after acquiring an additional 403 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Boyd Gaming in the 3rd quarter valued at $201,000. AlphaMark Advisors LLC increased its stake in shares of Boyd Gaming by 5.8% in the 3rd quarter. AlphaMark Advisors LLC now owns 8,529 shares of the company’s stock valued at $551,000 after acquiring an additional 466 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Boyd Gaming by 10.5% in the 3rd quarter. Creative Planning now owns 8,797 shares of the company’s stock valued at $569,000 after acquiring an additional 838 shares in 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.