Boyd Gaming (NYSE:BYD) Price Target Raised to $86.00

Boyd Gaming (NYSE:BYD) had its price objective lifted by Mizuho from $79.00 to $86.00 in a research report sent to investors on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial lifted their target price on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and upped their price target for the company from $73.00 to $92.00 in a research report on Friday, January 3rd. Finally, Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Boyd Gaming Stock Down 1.9 %

BYD opened at $77.09 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a market cap of $6.81 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 4.28 and a beta of 1.54. The company has a 50-day moving average price of $74.10 and a 200 day moving average price of $67.49.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.10% and a net margin of 13.01%. Sell-side analysts expect that Boyd Gaming will post 6.35 earnings per share for the current fiscal year.

Boyd Gaming declared that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Boyd Gaming Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.68 annualized dividend and a yield of 0.88%. Boyd Gaming’s dividend payout ratio (DPR) is currently 12.98%.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now directly owns 5,977 shares in the company, valued at $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Keith Smith sold 40,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the completion of the sale, the chief executive officer now owns 1,161,202 shares in the company, valued at $85,336,734.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,660 shares of company stock worth $7,307,149 over the last three months. Insiders own 28.40% of the company’s stock.

Institutional Trading of Boyd Gaming

Several hedge funds have recently made changes to their positions in BYD. AQR Capital Management LLC increased its stake in Boyd Gaming by 36.9% during the 2nd quarter. AQR Capital Management LLC now owns 6,495 shares of the company’s stock worth $357,000 after buying an additional 1,749 shares during the period. Creative Planning increased its position in shares of Boyd Gaming by 61.3% during the second quarter. Creative Planning now owns 7,959 shares of the company’s stock worth $439,000 after acquiring an additional 3,025 shares during the period. CX Institutional raised its stake in shares of Boyd Gaming by 10.7% in the third quarter. CX Institutional now owns 16,175 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,568 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in Boyd Gaming by 5.8% in the third quarter. AlphaMark Advisors LLC now owns 8,529 shares of the company’s stock valued at $551,000 after purchasing an additional 466 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in Boyd Gaming during the 3rd quarter worth $201,000. Institutional investors and hedge funds own 76.81% of the company’s stock.

About Boyd Gaming

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.