Boyd Gaming (NYSE:BYD) Price Target Raised to $88.00

Boyd Gaming (NYSE:BYD) had its price objective lifted by stock analysts at Wells Fargo & Company from $82.00 to $88.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 12.52% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a report on Thursday, January 16th. JPMorgan Chase & Co. raised 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. Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Tuesday, December 17th. Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and raised their target price for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Finally, Mizuho increased their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

Boyd Gaming Trading Down 0.5 %

Shares of NYSE:BYD opened at $78.21 on Friday. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 4.28 and a beta of 1.54. The business’s 50 day moving average price is $74.03 and its 200-day moving average price is $67.37. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $80.96.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.10% and a net margin of 13.01%. On average, equities research analysts forecast that Boyd Gaming will post 6.35 earnings per share for the current fiscal year.

Boyd Gaming announced that its board has authorized a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the sale, the director now directly owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. This represents a 9.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keith Smith sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following 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 represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,660 shares of company stock valued at $7,307,149. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its holdings in Boyd Gaming by 80.3% in the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares during the period. Quarry LP grew its stake in Boyd Gaming by 150.1% in the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Boyd Gaming by 921.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after acquiring an additional 802 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

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.