Merrill Lynch analyst Shaun Kelley maintained a Buy rating on Boyd Gaming (NYSE: BYD) yesterday and set a price target of $37. The company’s shares closed yesterday at $31.70.
According to TipRanks.com, Kelley is a 4-star analyst with an average return of 9.8% and a 58.0% success rate. Kelley covers the Services sector, focusing on stocks such as Las Vegas Sands, Wynn Resorts, and MGM Resorts.
Currently, the analyst consensus on Boyd Gaming is a Strong Buy with an average price target of $43.60, implying a 37.5% upside from current levels. In a report issued on October 12, Deutsche Bank also maintained a Buy rating on the stock with a $44 price target.
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Based on Boyd Gaming’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $38.6 million. In comparison, last year the company had a net profit of $22.98 million.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, William R. Boyd, the VP of BYD bought 7,781 shares for a total of $150,128.
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Boyd Gaming Corp. engages in the management and operation of gaming and entertainment properties. It operates through the following business segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South. The Las Vegas Locals segment consists of casinons that serve the resident population of the Las Vegas metropolitan area.
