Boyd Gaming (NYSE:BYD) Given New $87.00 Price Target at Morgan Stanley

Boyd Gaming (NYSE:BYD) had its target price lifted by equities researchers at Morgan Stanley from $86.00 to $87.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 0.12% from the stock’s previous close.

BYD has been the subject of several other reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research report on Monday, December 29th. UBS Group set a $110.00 target price on shares of Boyd Gaming in a research report on Wednesday, December 24th. Wells Fargo & Company dropped their target price on shares of Boyd Gaming from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Monday, February 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Finally, Susquehanna dropped their target price on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of “Hold” and an average price target of $92.50.

Boyd Gaming Price Performance

Boyd Gaming stock traded up $3.72 during mid-day trading on Wednesday, hitting $87.11. 29,572 shares of the company traded hands, compared to its average volume of 901,996. Boyd Gaming has a one year low of $60.39 and a one year high of $89.96. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 3.82, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. The stock has a fifty day moving average price of $83.02 and a 200-day moving average price of $83.36.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.33. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $1.96 earnings per share. Boyd Gaming’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the transaction, the insider directly owned 22,009 shares of the company’s stock, valued at approximately $1,839,732.31. This trade represents a 47.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William R. Boyd sold 30,000 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the transaction, the director directly owned 1,930,447 shares in the company, valued at $163,779,123.48. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 73,454 shares of company stock valued at $6,231,827. 27.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of Boyd Gaming by 2.7% in the third quarter. Alps Advisors Inc. now owns 5,384 shares of the company’s stock worth $465,000 after buying an additional 141 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Boyd Gaming by 24.5% in the fourth quarter. TD Private Client Wealth LLC now owns 854 shares of the company’s stock worth $73,000 after buying an additional 168 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Boyd Gaming by 4.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,434 shares of the company’s stock worth $371,000 after buying an additional 170 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Boyd Gaming by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after buying an additional 196 shares during the period. Finally, Interchange Capital Partners LLC increased its position in Boyd Gaming by 9.0% during the 4th quarter. Interchange Capital Partners LLC now owns 2,996 shares of the company’s stock valued at $255,000 after purchasing an additional 247 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.