Boyd Gaming Corporation (BYD) PT Raised to $31.00 at Telsey Advisory Group

Boyd Gaming Corporation (NYSE:BYD) had its price objective lifted by Telsey Advisory Group from $30.00 to $31.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s price target indicates a potential upside of 11.51% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Boyd Gaming Corporation from a “sell” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, July 14th. Morgan Stanley downgraded Boyd Gaming Corporation from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock. in a research report on Tuesday, June 20th. They noted that the move was a valuation call. Instinet reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 19th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $25.00 price objective (up previously from $22.00) on shares of Boyd Gaming Corporation in a research report on Monday, June 19th. Finally, ValuEngine downgraded Boyd Gaming Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.00.

Boyd Gaming Corporation (NYSE BYD) opened at 27.80 on Thursday. The company has a market cap of $3.14 billion, a PE ratio of 7.34 and a beta of 1.87. The stock has a 50 day moving average of $26.25 and a 200 day moving average of $24.97. Boyd Gaming Corporation has a one year low of $16.77 and a one year high of $27.98.

Boyd Gaming Corporation (NYSE:BYD) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). The business had revenue of $599.87 million during the quarter, compared to the consensus estimate of $602.39 million. Boyd Gaming Corporation had a net margin of 19.15% and a return on equity of 13.31%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. On average, analysts anticipate that Boyd Gaming Corporation will post $1.12 earnings per share for the current fiscal year.

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In other news, Director Robert L. Boughner sold 40,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.70, for a total transaction of $1,068,000.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,068,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William S. Boyd sold 76,531 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total value of $1,927,050.58. The disclosure for this sale can be found here. Insiders have sold a total of 133,531 shares of company stock worth $3,447,521 in the last three months. Corporate insiders own 29.16% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Boyd Gaming Corporation by 105,482.6% during the first quarter. BlackRock Inc. now owns 10,413,612 shares of the company’s stock valued at $229,205,000 after purchasing an additional 10,403,749 shares in the last quarter. Vanguard Group Inc. boosted its position in Boyd Gaming Corporation by 2.4% during the first quarter. Vanguard Group Inc. now owns 9,726,723 shares of the company’s stock valued at $214,085,000 after purchasing an additional 227,769 shares in the last quarter. State Street Corp boosted its position in Boyd Gaming Corporation by 4.0% during the second quarter. State Street Corp now owns 1,951,576 shares of the company’s stock valued at $48,421,000 after purchasing an additional 75,012 shares in the last quarter. Bank of America Corp DE boosted its position in Boyd Gaming Corporation by 373.3% during the first quarter. Bank of America Corp DE now owns 1,482,567 shares of the company’s stock valued at $32,631,000 after purchasing an additional 1,169,330 shares in the last quarter. Finally, FMR LLC boosted its position in Boyd Gaming Corporation by 531.0% during the second quarter. FMR LLC now owns 1,418,700 shares of the company’s stock valued at $35,199,000 after purchasing an additional 1,193,874 shares in the last quarter. 74.66% of the stock is currently owned by institutional investors.

About Boyd Gaming Corporation

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.

Analyst Recommendations for Boyd Gaming Corporation (NYSE:BYD)

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