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

Shares of Boyd Gaming Co. (NYSE:BYD) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $91.77.

Several equities analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a report on Friday, October 25th. Mizuho reissued 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. Bank of America raised their price target on Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Truist Financial upped their target price 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. Finally, Morgan Stanley lifted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd.

Boyd Gaming Stock Up 0.7 %

Shares of NYSE BYD opened at $74.95 on Friday. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $76.73. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The business has a fifty day moving average of $70.30 and a two-hundred day moving average of $62.12. The stock has a market cap of $6.62 billion, a PE ratio of 14.30, a PEG ratio of 9.93 and a beta of 1.54.

Boyd Gaming Announces Dividend

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

Boyd Gaming announced that its board has authorized a share buyback program on Thursday, December 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Josh Hirsberg sold 21,549 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 approximately $31,330,269.45. This trade represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Keith Smith sold 40,000 shares of Boyd Gaming stock in a transaction dated Wednesday, November 13th. The stock was 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 directly owns 1,161,202 shares of the company’s stock, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,704 shares of company stock valued at $10,540,944. Corporate insiders own 27.94% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

Several hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in shares of Boyd Gaming during the second quarter valued at approximately $29,000. Covestor Ltd boosted its stake in Boyd Gaming by 54.9% in the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares during the period. Blue Trust Inc. increased its holdings in shares of Boyd Gaming by 58.2% in the second quarter. Blue Trust Inc. now owns 783 shares of the company’s stock worth $43,000 after purchasing an additional 288 shares during the last quarter. Quarry LP grew its stake in shares of Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock worth $56,000 after buying an additional 524 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock valued at $57,000 after purchasing an additional 802 shares during the last quarter. 76.81% of the stock is owned by hedge funds and other 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.