Mizuho Lowers Boyd Gaming (NYSE:BYD) Price Target to $78.00

Boyd Gaming (NYSE:BYD) had its target price dropped by equities researchers at Mizuho from $80.00 to $78.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 46.67% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Barclays lifted their price objective on Boyd Gaming from $66.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Susquehanna reiterated a “neutral” rating and issued a $75.00 price objective (down previously from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Truist Financial lifted their price objective on Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. cut Boyd Gaming from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $67.00 in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and lowered their target price for the company from $78.00 to $71.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Hold” and an average price target of $72.20.

Boyd Gaming Price Performance

Boyd Gaming stock opened at $53.18 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market capitalization of $5.09 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.60. Boyd Gaming has a one year low of $52.42 and a one year high of $73.00. The business has a 50 day simple moving average of $63.98 and a 200 day simple moving average of $62.03.

Boyd Gaming (NYSE:BYD) last posted its earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. Boyd Gaming had a return on equity of 34.77% and a net margin of 14.91%. The business had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same quarter last year, the company earned $1.72 EPS. Boyd Gaming’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Boyd Gaming will post 6.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Boyd Gaming news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at $256,083.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder William S. Boyd sold 63,464 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the sale, the director now owns 4,017 shares in the company, valued at $256,083.75. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock valued at $37,299,461 over the last three months. Company insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

A number of institutional investors have recently modified their holdings of BYD. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Boyd Gaming by 885.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock valued at $100,822,000 after purchasing an additional 1,489,240 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Boyd Gaming by 34.4% in the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock valued at $297,270,000 after purchasing an additional 1,216,121 shares in the last quarter. Norges Bank bought a new stake in shares of Boyd Gaming in the fourth quarter valued at about $44,773,000. Boston Partners lifted its holdings in shares of Boyd Gaming by 29.5% in the fourth quarter. Boston Partners now owns 2,756,215 shares of the company’s stock valued at $172,638,000 after purchasing an additional 628,512 shares in the last quarter. Finally, Scout Investments Inc. bought a new stake in Boyd Gaming during the fourth quarter worth about $18,091,000. 76.81% of the stock is currently owned by institutional investors.

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.