Boyd Gaming Corporation (NYSE:BYD) Price Target Raised to $25.00

Boyd Gaming Corporation (NYSE:BYD) had its target price upped by Barclays PLC from $24.00 to $25.00 in a research note issued to investors on Tuesday, August 1st. They currently have an equal weight rating on the stock.

BYD has been the subject of several other research reports. Telsey Advisory Group increased their target price on Boyd Gaming Corporation from $29.00 to $30.00 and gave the stock an outperform rating in a research report on Friday, July 28th. Imperial Capital increased their target price on Boyd Gaming Corporation from $26.00 to $29.00 and gave the stock an outperform rating in a research report on Thursday, May 4th. Zacks Investment Research lowered Boyd Gaming Corporation from a buy rating to a hold rating in a research report on Monday, July 31st. Deutsche Bank AG reissued a buy rating and issued a $29.00 target price (down previously from $30.00) on shares of Boyd Gaming Corporation in a research report on Sunday, July 30th. Finally, Instinet raised their price objective on Boyd Gaming Corporation from $26.00 to $27.00 and gave the company a buy rating in a research report on Thursday, May 4th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Boyd Gaming Corporation presently has an average rating of Buy and an average target price of $26.87.

Boyd Gaming Corporation (NYSE:BYD) opened at 25.56 on Tuesday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 6.75 and a beta of 1.93. Boyd Gaming Corporation has a 52-week low of $16.77 and a 52-week high of $26.87. The stock has a 50 day moving average of $25.67 and a 200-day moving average of $23.37.

Boyd Gaming Corporation (NYSE:BYD) last announced its earnings results on Thursday, July 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.04. Boyd Gaming Corporation had a return on equity of 13.31% and a net margin of 19.15%. The firm had revenue of $599.87 million during the quarter, compared to the consensus estimate of $602.39 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. On average, analysts forecast that Boyd Gaming Corporation will post $1.10 EPS for the current year.

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In other news, CEO Keith Smith sold 21,780 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $25.68, for a total value of $559,310.40. Following the transaction, the chief executive officer now directly owns 1,031,554 shares in the company, valued at $26,490,306.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William R. Boyd sold 10,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $26.55, for a total value of $265,500.00. Following the completion of the transaction, the vice president now owns 8,251 shares in the company, valued at $219,064.05. The disclosure for this sale can be found here. Insiders have sold 183,816 shares of company stock worth $4,672,840 over the last quarter. 29.16% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Boyd Gaming Corporation by 909.7% in the first quarter. American Century Companies Inc. now owns 347,918 shares of the company’s stock valued at $7,658,000 after buying an additional 313,462 shares during the last quarter. First Trust Advisors LP increased its position in shares of Boyd Gaming Corporation by 46.7% in the first quarter. First Trust Advisors LP now owns 32,149 shares of the company’s stock valued at $708,000 after buying an additional 10,235 shares during the last quarter. Capital One National Association increased its position in shares of Boyd Gaming Corporation by 1.0% in the first quarter. Capital One National Association now owns 18,194 shares of the company’s stock valued at $400,000 after buying an additional 178 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Boyd Gaming Corporation by 2.6% in the first quarter. Wedge Capital Management L L P NC now owns 15,558 shares of the company’s stock valued at $342,000 after buying an additional 397 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Boyd Gaming Corporation by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 114,064 shares of the company’s stock valued at $2,509,000 after buying an additional 7,901 shares during the period. Institutional investors and hedge funds own 71.12% of the company’s stock.

Boyd Gaming Corporation Company Profile

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

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