Boyd Gaming (NYSE:BYD) Price Target Increased to $30.00 by Analysts at Morgan Stanley

Share on StockTwits

Boyd Gaming (NYSE:BYD) had its target price lifted by Morgan Stanley from $29.00 to $30.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Susquehanna Bancshares downgraded shares of Boyd Gaming from a positive rating to a neutral rating in a report on Thursday, July 23rd. Deutsche Bank reaffirmed a buy rating and issued a $27.00 target price (up previously from $22.00) on shares of Boyd Gaming in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $21.00 to $24.00 and gave the stock an overweight rating in a report on Wednesday, July 15th. TheStreet cut shares of Boyd Gaming from a c rating to a d+ rating in a research note on Friday, May 15th. Finally, Union Gaming Research cut shares of Boyd Gaming from a buy rating to a hold rating and set a $18.00 price target on the stock. in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $26.79.

Shares of Boyd Gaming stock opened at $23.67 on Wednesday. The company has a market capitalization of $2.63 billion, a P/E ratio of -42.27 and a beta of 2.35. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.88 and a current ratio of 1.92. The company has a fifty day moving average of $20.75 and a 200 day moving average of $21.48. Boyd Gaming has a fifty-two week low of $6.44 and a fifty-two week high of $36.22.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Tuesday, July 28th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.47. The company had revenue of $209.90 million during the quarter, compared to the consensus estimate of $199.61 million. Boyd Gaming had a negative net margin of 2.48% and a negative return on equity of 0.88%. Boyd Gaming’s quarterly revenue was down 75.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Analysts forecast that Boyd Gaming will post -0.86 EPS for the current year.

In other news, EVP Marianne Boyd Johnson sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $23.69, for a total transaction of $2,369,000.00. Following the sale, the executive vice president now directly owns 285,498 shares in the company, valued at approximately $6,763,447.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 29.08% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its position in shares of Boyd Gaming by 4.7% during the 2nd quarter. Comerica Bank now owns 37,477 shares of the company’s stock valued at $839,000 after buying an additional 1,671 shares in the last quarter. Mackay Shields LLC purchased a new stake in Boyd Gaming in the 2nd quarter worth about $623,000. Signaturefd LLC raised its position in Boyd Gaming by 3,296.5% in the 2nd quarter. Signaturefd LLC now owns 2,921 shares of the company’s stock worth $61,000 after purchasing an additional 2,835 shares during the period. Chartwell Investment Partners LLC purchased a new stake in Boyd Gaming in the 2nd quarter worth about $2,292,000. Finally, State of Michigan Retirement System raised its position in Boyd Gaming by 31.2% in the 2nd quarter. State of Michigan Retirement System now owns 29,118 shares of the company’s stock worth $609,000 after purchasing an additional 6,918 shares during the period. Hedge funds and other institutional investors own 66.26% 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 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

Recommended Story: Risk Tolerance

Analyst Recommendations for Boyd Gaming (NYSE:BYD)

Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.