Boyd Gaming (NYSE:BYD) Price Target Raised to $80.00

Boyd Gaming (NYSE:BYD) had its price target upped by JPMorgan Chase & Co. from $74.00 to $80.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research report on Thursday, January 16th. Barclays increased their price objective on Boyd Gaming from $71.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $92.80.

Boyd Gaming Trading Down 0.1 %

Shares of BYD opened at $75.34 on Friday. The stock has a fifty day moving average price of $73.21 and a two-hundred day moving average price of $66.31. 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 company has a market cap of $6.66 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 4.21 and a beta of 1.54. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $76.73.

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

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, December 16th. Boyd Gaming’s payout ratio is presently 12.98%.

Insider Activity

In other news, Director William R. Boyd sold 25,155 shares of Boyd Gaming stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the transaction, the director now owns 1,487,970 shares in the company, valued at $103,190,719.50. The trade was a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total value of $49,948.80. Following the sale, the director now directly owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,364 shares of company stock valued at $10,590,893 in the last quarter. Company insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in shares of Boyd Gaming by 6,158.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after purchasing an additional 894,383 shares during the period. Long Pond Capital LP bought a new position in shares of Boyd Gaming during the second quarter worth about $20,440,000. International Assets Investment Management LLC raised its position in Boyd Gaming by 4,816.4% in the 3rd quarter. International Assets Investment Management LLC now owns 184,560 shares of the company’s stock valued at $119,320,000 after buying an additional 180,806 shares during the last quarter. Goldentree Asset Management LP bought a new stake in Boyd Gaming in the 3rd quarter valued at approximately $11,490,000. Finally, Weiss Asset Management LP acquired a new position in Boyd Gaming during the 3rd quarter worth approximately $7,101,000. 76.81% of the stock is owned by institutional investors.

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.