Boyd Gaming (NYSE:BYD) Upgraded at StockNews.com

StockNews.com upgraded shares of Boyd Gaming (NYSE:BYD) from a buy rating to a strong-buy rating in a report published on Monday morning.

Other analysts also recently issued reports about the company. Macquarie reduced their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Bank of America boosted their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Truist Financial raised their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Morgan Stanley boosted their price target on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Boyd Gaming Price Performance

NYSE:BYD opened at $70.41 on Monday. The company has a market cap of $6.68 billion, a P/E ratio of 12.64 and a beta of 1.57. The firm’s fifty day moving average price is $63.17 and its two-hundred day moving average price is $58.54. Boyd Gaming has a one year low of $49.34 and a one year high of $72.22. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Sunday, September 15th were issued a $0.17 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 0.97%. Boyd Gaming’s payout ratio is presently 12.21%.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the completion of the transaction, the director now owns 1,096 shares of the company’s stock, valued at $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now owns 1,096 shares of the company’s stock, valued at $66,154.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

Several institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama lifted its position in shares of Boyd Gaming by 14.8% in the 1st quarter. Retirement Systems of Alabama now owns 223,978 shares of the company’s stock worth $15,078,000 after purchasing an additional 28,844 shares during the period. Sei Investments Co. lifted its holdings in Boyd Gaming by 14.7% in the first quarter. Sei Investments Co. now owns 398,823 shares of the company’s stock valued at $26,849,000 after buying an additional 51,252 shares during the period. Seven Eight Capital LP bought a new stake in Boyd Gaming during the first quarter valued at $930,000. Banco Santander S.A. grew its holdings in Boyd Gaming by 34.0% during the 1st quarter. Banco Santander S.A. now owns 187,492 shares of the company’s stock worth $12,622,000 after acquiring an additional 47,606 shares during the period. Finally, Comerica Bank raised its position in shares of Boyd Gaming by 103.1% in the 1st quarter. Comerica Bank now owns 42,898 shares of the company’s stock worth $2,888,000 after acquiring an additional 21,772 shares in the last quarter. 76.81% of the stock is currently owned by institutional investors.

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.