Boyd Gaming (NYSE:BYD)'s stock had its "buy" rating reaffirmed by research analysts at Deutsche Bank Aktiengesellschaft in a research note issued on Wednesday, TipRanks reports. They currently have a $78.00 target price on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 32.54% from the company's current price.
Several other brokerages have also issued reports on BYD. TheStreet raised shares of Boyd Gaming from a "c+" rating to a "b" rating in a report on Friday, May 28th. Morgan Stanley boosted their price target on shares of Boyd Gaming from $78.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday. Zacks Investment Research raised shares of Boyd Gaming from a "hold" rating to a "strong-buy" rating and set a $76.00 price target on the stock in a report on Friday, April 30th. Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, KeyCorp boosted their target price on shares of Boyd Gaming from $61.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday, April 8th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Boyd Gaming has an average rating of "Buy" and a consensus price target of $62.38.
BYD stock traded up $1.95 on Wednesday, reaching $58.85. 65,235 shares of the company were exchanged, compared to its average volume of 1,216,405. Boyd Gaming has a 12 month low of $21.32 and a 12 month high of $71.00. The company has a fifty day simple moving average of $59.94. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 58.85, a PEG ratio of 0.43 and a beta of 2.19. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 3.14.
Boyd Gaming (NYSE:BYD) last announced its earnings results on Monday, July 26th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.83 by $0.71. Boyd Gaming had a net margin of 5.11% and a return on equity of 8.22%. The business had revenue of $893.20 million for the quarter, compared to analyst estimates of $806.82 million. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. Boyd Gaming's revenue was up 344.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Boyd Gaming will post 3.34 earnings per share for the current fiscal year.
In related news, CEO Keith Smith sold 75,000 shares of the stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $60.88, for a total transaction of $4,566,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,326,958 shares of the company's stock, valued at approximately $80,785,203.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William R. Boyd sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $67.25, for a total value of $2,017,500.00. Following the sale, the vice president now directly owns 23,084 shares of the company's stock, valued at $1,552,399. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,068 shares of company stock valued at $8,170,806. 27.94% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in Boyd Gaming during the 1st quarter worth $60,000. Advisors Asset Management Inc. grew its position in Boyd Gaming by 240.4% in the first quarter. Advisors Asset Management Inc. now owns 1,103 shares of the company's stock valued at $65,000 after acquiring an additional 779 shares during the last quarter. Ellevest Inc. grew its position in Boyd Gaming by 253.2% in the first quarter. Ellevest Inc. now owns 1,176 shares of the company's stock valued at $69,000 after acquiring an additional 843 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Boyd Gaming by 174.4% during the first quarter. Captrust Financial Advisors now owns 1,372 shares of the company's stock valued at $81,000 after purchasing an additional 872 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Boyd Gaming by 30.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,236 shares of the company's stock valued at $132,000 after purchasing an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 68.23% of the company's stock.
Boyd Gaming Company Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 8, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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