Brokerages Set Boyd Gaming Co. (NYSE:BYD) Target Price at $91.38

Shares of Boyd Gaming Co. (NYSE:BYD) have been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $91.38.

BYD has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Mizuho reiterated an “outperform” rating and issued a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Stifel Nicolaus raised their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th.

Insider Transactions at Boyd Gaming

In other news, CFO Josh Hirsberg sold 21,549 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $71.43, for a total transaction of $1,539,245.07. Following the completion of the sale, the chief financial officer now owns 438,615 shares in the company, valued at $31,330,269.45. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the transaction, the director now owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,704 shares of company stock valued at $10,540,944 in the last three months. 28.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Trust Company N.A increased its stake in shares of Boyd Gaming by 5.4% in the 3rd quarter. Cetera Trust Company N.A now owns 3,330 shares of the company’s stock valued at $215,000 after acquiring an additional 170 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in Boyd Gaming by 2.6% during the second quarter. AlphaMark Advisors LLC now owns 8,063 shares of the company’s stock valued at $444,000 after purchasing an additional 205 shares during the period. Covestor Ltd increased its stake in Boyd Gaming by 54.9% in the third quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. KBC Group NV raised its holdings in Boyd Gaming by 0.9% in the third quarter. KBC Group NV now owns 25,407 shares of the company’s stock worth $1,643,000 after purchasing an additional 232 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after purchasing an additional 288 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $74.68 on Friday. The company has a market cap of $6.60 billion, a P/E ratio of 14.25, a PEG ratio of 9.91 and a beta of 1.54. Boyd Gaming has a one year low of $49.34 and a one year high of $76.73. The business’s 50-day simple moving average is $69.43 and its 200 day simple moving average is $61.62. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.17 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.91%. Boyd Gaming’s dividend payout ratio is currently 12.98%.

Boyd Gaming declared that its board has approved 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Boyd Gaming Company Profile

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.