Boyd Gaming Co. (NYSE:BYD) Given Average Rating of "Moderate Buy" by Brokerages

Boyd Gaming Co. (NYSE:BYD - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings 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 1 year price target among brokers that have issued a report on the stock in the last year is $91.38.

Several research analysts have commented on BYD shares. Truist Financial raised their target price on shares of Boyd Gaming from $75.00 to $77.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Bank of America increased their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. Morgan Stanley lifted their target price on Boyd Gaming from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Boyd Gaming from a "buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Finally, Mizuho reaffirmed an "outperform" rating and set a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a research report on Friday, October 25th.

Boyd Gaming Stock Up 1.0 %

BYD stock traded up $0.72 during trading on Friday, reaching $75.55. The stock had a trading volume of 528,145 shares, compared to its average volume of 724,811. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $76.73. The firm has a fifty day moving average price of $69.23 and a 200 day moving average price of $61.35. The company has a market capitalization of $6.68 billion, a P/E ratio of 14.42, a PEG ratio of 9.80 and a beta of 1.54. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85.

Boyd Gaming declared that its board has authorized a share buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Boyd Gaming Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.17 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.68 annualized dividend and a yield of 0.90%. Boyd Gaming's dividend payout ratio (DPR) is currently 12.98%.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 25,155 shares of the business's stock in a transaction on Thursday, October 31st. The shares were 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 of the company's stock, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Keith Smith sold 30,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $72.15, for a total transaction of $2,164,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,101,202 shares of the company's stock, valued at approximately $79,451,724.30. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,704 shares of company stock worth $10,540,944 over the last ninety days. Company insiders own 27.94% of the company's stock.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Boyd Gaming during the 2nd quarter valued at about $29,000. Covestor Ltd lifted its stake in Boyd Gaming by 54.9% during the third 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. boosted its holdings in Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company's stock valued at $43,000 after purchasing an additional 288 shares in 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 valued at $56,000 after purchasing an additional 524 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of 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 buying an additional 802 shares in the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

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.