Boyd Gaming (NYSE:BYD) Given New $67.00 Price Target at Stifel Nicolaus

Boyd Gaming (NYSE:BYD) had its target price increased by Stifel Nicolaus from $65.00 to $67.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 10.47% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley lowered their price target on shares of Boyd Gaming from $68.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft lowered Boyd Gaming from a “buy” rating to a “hold” rating and decreased their price target for the stock from $78.00 to $71.00 in a research note on Friday, April 26th. Argus downgraded Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Mizuho reduced their target price on shares of Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming presently has an average rating of “Hold” and a consensus target price of $91.08.

Boyd Gaming Trading Up 3.6 %

Shares of BYD traded up $2.12 during mid-day trading on Friday, reaching $60.65. The company’s stock had a trading volume of 466,845 shares, compared to its average volume of 941,157. The stock has a market cap of $5.75 billion, a PE ratio of 10.80 and a beta of 1.58. The company’s fifty day moving average price is $54.66 and its two-hundred day moving average price is $59.79. Boyd Gaming has a 52 week low of $49.34 and a 52 week high of $72.01. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.61.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.11. The firm had revenue of $967.50 million for the quarter, compared to analyst estimates of $909.49 million. Boyd Gaming had a return on equity of 34.76% and a net margin of 14.91%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. On average, analysts predict that Boyd Gaming will post 6.04 earnings per share for the current fiscal year.

Boyd Gaming announced that its Board of Directors has initiated a share repurchase program on Monday, May 13th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,874 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total value of $100,034.12. Following the completion of the transaction, the director now directly owns 2,338 shares of the company’s stock, valued at approximately $124,802.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 27.94% of the stock is owned by insiders.

Institutional Trading of Boyd Gaming

A number of institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. boosted its stake in shares of Boyd Gaming by 34.4% during the 4th quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock worth $297,270,000 after acquiring an additional 1,216,121 shares in the last quarter. Norges Bank acquired a new position in shares of Boyd Gaming in the 4th quarter valued at $44,773,000. Boston Partners increased its stake in Boyd Gaming by 29.5% in the 4th quarter. Boston Partners now owns 2,756,215 shares of the company’s stock worth $172,638,000 after purchasing an additional 628,512 shares in the last quarter. Scout Investments Inc. acquired a new stake in Boyd Gaming during the 4th quarter worth about $18,091,000. Finally, Beck Bode LLC purchased a new stake in Boyd Gaming during the first quarter valued at about $15,985,000. 76.81% of the stock is owned by institutional investors and hedge funds.

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.