Boyd Gaming Corporation (NYSE:BYD) Stock Has Average Price Target of $89.46 According to Brokerages

Shares of Boyd Gaming Corporation (NYSE:BYD) have received an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $89.46.

A number of analysts have issued reports on BYD shares. Deutsche Bank raised Boyd Gaming from a “hold” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $99.00 in a report on Tuesday, October 6th. Susquehanna upgraded Boyd Gaming from a “neutral” rating to a “positive” rating and dropped their price objective for the company from $87.00 to $83.00 in a report on Monday, October 19th. Stifel Nicolaus dropped their price objective on Boyd Gaming from $92.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. The Goldman Sachs Group set a $80.00 target price on Boyd Gaming in a research report on Tuesday, October 13th. Finally, Barclays decreased their target price on Boyd Gaming from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, October 23rd.

Hedge Funds Weigh In On Boyd Gaming

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of Boyd Gaming by 9.1% during the 1st quarter. Assetmark Inc. now owns 1,553 shares of the company’s stock worth $128,000 after buying an additional 129 shares during the last quarter. Voya Investment Management LLC raised its stake in Boyd Gaming by 1.6% during the 3rd quarter. Voya Investment Management LLC now owns 9,406 shares of the company’s stock worth $626,000 after acquiring an additional 152 shares in the last quarter. Altshuler Shaham Ltd raised its stake in Boyd Gaming by 54.3% during the 1st quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock worth $37,000 after acquiring an additional 159 shares in the last quarter. Bessemer Group Inc. raised its stake in Boyd Gaming by 62.8% during the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after acquiring an additional 203 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Boyd Gaming by 17.1% in the first quarter. Parallel Advisors LLC now owns 1,494 shares of the company’s stock valued at $123,000 after acquiring an additional 218 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.

Boyd Gaming Price Performance

Shares of BYD opened at $77.61 on Friday. Boyd Gaming has a twelve month low of $65.00 and a twelve month high of $91.41. The firm’s fifty day simple moving average is $72.90 and its 200-day simple moving average is $81.50. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.46 and a beta of 1.13. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 0.77.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, October 22nd. The company reported $1.67 EPS for the quarter, hitting analysts’ consensus estimates of $1.67. The firm had revenue of $990.46 million during the quarter, compared to the consensus estimate of $1 billion. Boyd Gaming had a net margin of 12.29% and a return on equity of 22.32%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Equities analysts forecast that Boyd Gaming will post 7.12 EPS for the current fiscal year.

About Boyd Gaming

Boyd Gaming Corporation is a U.S. casino and hospitality company that owns and operates gaming, hotel, dining and entertainment properties. Its portfolio includes casinos serving local customers in Las Vegas as well as resorts and regional gaming destinations in several states. The company was founded in 1975 by Sam Boyd and his son, Bill Boyd, and began with the opening of the California Hotel and Casino in downtown Las Vegas. Boyd Gaming is headquartered in Las Vegas and operates properties across multiple U.S. markets.