Boyd Gaming (NYSE:BYD) Stock Price Expected to Rise, Barclays Analyst Says

Boyd Gaming (NYSE:BYD - Free Report) had its price target boosted by Barclays from $74.00 to $78.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial upped their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Stifel Nicolaus upped their price target on shares of Boyd Gaming from $74.00 to $82.00 and gave the stock a "hold" rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Mizuho upped their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Boyd Gaming Trading Up 0.0 %

Boyd Gaming stock traded up $0.01 during trading hours on Friday, hitting $77.69. The company had a trading volume of 1,279,606 shares, compared to its average volume of 986,278. The firm has a market cap of $6.87 billion, a P/E ratio of 12.49, a P/E/G ratio of 4.38 and a beta of 1.54. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. Boyd Gaming has a 1 year low of $49.34 and a 1 year high of $80.50. The company has a 50-day moving average price of $74.15 and a two-hundred day moving average price of $67.75.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, sell-side analysts anticipate that Boyd Gaming will post 6.57 earnings per share for the current year.

Boyd Gaming declared that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.88%. Boyd Gaming's payout ratio is 10.93%.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction 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 sale, the director now owns 5,977 shares in the company, valued at $452,339.36. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Smith sold 40,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the sale, the chief executive officer now owns 1,161,202 shares in the company, valued at $85,336,734.98. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,660 shares of company stock worth $7,307,149. 27.94% of the stock is owned by corporate insiders.

Institutional Trading of Boyd Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners boosted its holdings in Boyd Gaming by 36.9% during the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock worth $287,185,000 after buying an additional 1,065,887 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Boyd Gaming by 6,158.8% during the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company's stock worth $58,761,000 after buying an additional 894,383 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Boyd Gaming during the fourth quarter worth $43,273,000. International Assets Investment Management LLC boosted its holdings in Boyd Gaming by 4,816.4% during the third quarter. International Assets Investment Management LLC now owns 184,560 shares of the company's stock worth $119,320,000 after buying an additional 180,806 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new stake in Boyd Gaming during the third quarter worth $11,490,000. Institutional investors and hedge funds own 76.81% of the company's stock.

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.