Boyd Gaming (NYSE:BYD) Given New $86.00 Price Target at Mizuho

Boyd Gaming (NYSE:BYD - Get Free Report) had its price target raised by research analysts at Mizuho from $79.00 to $86.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 10.56% from the stock's current price.

Several other research firms have also recently commented on BYD. Susquehanna raised their price target on Boyd Gaming from $69.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Truist Financial boosted their target price 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. Jefferies Financial Group upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and increased their price target for the company from $73.00 to $92.00 in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, Argus upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Boyd Gaming presently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Boyd Gaming Stock Performance

Boyd Gaming stock traded up $0.10 during mid-day trading on Friday, reaching $77.78. 756,337 shares of the company were exchanged, compared to its average volume of 963,922. The firm's 50-day simple moving average is $74.15 and its two-hundred day simple moving average is $67.75. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $80.50. The firm has a market cap of $6.88 billion, a PE ratio of 12.51, a price-to-earnings-growth 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 (NYSE:BYD - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Equities analysts predict that Boyd Gaming will post 6.57 earnings per share for the current fiscal year.

Boyd Gaming announced that its board has initiated a stock repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Boyd Gaming 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 transaction of $49,948.80. Following the transaction, the director now directly owns 5,977 shares in the company, valued at $452,339.36. This represents a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keith Smith sold 30,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $71.77, for a total transaction of $2,153,100.00. Following the completion of the sale, the chief executive officer now owns 1,131,202 shares in the company, valued at approximately $81,186,367.54. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 100,660 shares of company stock valued at $7,307,149. Company insiders own 27.94% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors have recently modified their holdings of BYD. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 148 shares during the period. Cetera Trust Company N.A lifted its holdings in shares of Boyd Gaming by 5.4% in the 3rd quarter. Cetera Trust Company N.A now owns 3,330 shares of the company's stock worth $215,000 after purchasing an additional 170 shares during the last quarter. UMB Bank n.a. boosted its position 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 purchasing an additional 175 shares during the period. Covestor Ltd grew its stake in 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 last quarter. Finally, KBC Group NV boosted its holdings in shares of Boyd Gaming by 0.9% during the third quarter. KBC Group NV now owns 25,407 shares of the company's stock valued at $1,643,000 after acquiring an additional 232 shares during the period. Institutional investors 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.