Boyd Gaming (NYSE:BYD) Price Target Raised to $80.00 at JPMorgan Chase & Co.

Boyd Gaming (NYSE:BYD) had its price objective raised by JPMorgan Chase & Co. from $74.00 to $80.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on BYD. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a research note on Thursday, January 16th. Jefferies Financial Group upgraded Boyd Gaming from a “hold” rating to a “buy” rating and lifted their price target for the company from $73.00 to $92.00 in a report on Friday, January 3rd. Truist Financial upped their price objective on Boyd Gaming from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company lifted their target price on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Mizuho restated an “outperform” rating and issued a $79.00 price target (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boyd Gaming presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.80.

Boyd Gaming Stock Performance

BYD stock opened at $75.34 on Friday. 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 $76.73. The business has a 50-day moving average price of $73.21 and a 200 day moving average price of $66.15. The company has a market capitalization of $6.66 billion, a P/E ratio of 14.38, a PEG ratio of 4.21 and a beta of 1.54.

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

Boyd Gaming Dividend Announcement

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

Insider Buying and Selling at Boyd Gaming

In related 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 value of $1,744,499.25. Following the sale, the director now directly owns 1,487,970 shares in the company, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 5,977 shares in the company, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,364 shares of company stock valued at $10,590,893. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its stake in Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Boyd Gaming by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Covestor Ltd increased its holdings in shares of 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 during the last quarter. Quarry LP lifted its position in Boyd Gaming by 150.1% during the third 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 grew 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 valued at $57,000 after buying an additional 802 shares in the last quarter. 76.81% of the stock is currently 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.