Brokerages Set Boyd Gaming Co. (NYSE:BYD) Price Target at $91.38

Shares of Boyd Gaming Co. (NYSE:BYD) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $91.38.

Several analysts have recently commented on the company. Macquarie decreased their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America upped their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Morgan Stanley upped their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd.

Boyd Gaming Trading Down 0.7 %

NYSE:BYD opened at $71.95 on Tuesday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 9.45 and a beta of 1.55. Boyd Gaming has a 52 week low of $49.34 and a 52 week high of $74.78. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average of $66.23 and a 200 day moving average of $59.59.

Insiders Place Their Bets

In related news, CEO Keith Smith sold 40,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the sale, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was a 53.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,076 shares of company stock valued at $10,702,931. Company insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Boyd Gaming in the 2nd quarter valued at about $29,000. Allspring Global Investments Holdings LLC increased its position in shares of Boyd Gaming by 57.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock valued at $35,000 after buying an additional 189 shares in the last quarter. Covestor Ltd raised its stake in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares during the period. Blue Trust Inc. lifted its position in shares of Boyd Gaming by 58.2% during the 2nd quarter. Blue Trust Inc. now owns 783 shares of the company’s stock valued at $43,000 after buying an additional 288 shares in the last quarter. Finally, Quarry LP grew its stake in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after acquiring an additional 524 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

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.