Boyd Gaming (NYSE:BYD) Price Target Raised to $78.00 at Morgan Stanley

Boyd Gaming (NYSE:BYD - Free Report) had its target price increased by Morgan Stanley from $74.00 to $78.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Macquarie reduced their price objective on Boyd Gaming from $72.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Stifel Nicolaus boosted their price target on Boyd Gaming from $65.00 to $67.00 and gave the company a "hold" rating in a report on Friday, July 26th. StockNews.com raised shares of Boyd Gaming from a "hold" rating to a "buy" rating in a research note on Monday, July 22nd. Bank of America lifted their target price on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company increased their price target on shares of Boyd Gaming from $71.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.08.

Boyd Gaming Stock Up 1.0 %

NYSE BYD traded up $0.64 on Tuesday, hitting $64.40. The stock had a trading volume of 542,739 shares, compared to its average volume of 915,040. The business's fifty day moving average price is $61.75 and its 200 day moving average price is $58.37. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 11.49 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $68.46.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.09. The business had revenue of $967.50 million during the quarter, compared to analysts' expectations of $909.49 million. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.58 earnings per share. Equities research analysts anticipate that Boyd Gaming will post 6.25 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Sunday, September 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date was Friday, September 13th. Boyd Gaming's payout ratio is currently 12.21%.

Insiders Place Their Bets

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Christine J. Spadafor sold 1,242 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now owns 1,096 shares of the company's stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares in the company, valued at $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Boyd Gaming

Large investors have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in shares of Boyd Gaming in the 2nd quarter valued at about $29,000. Allspring Global Investments Holdings LLC raised its holdings in Boyd Gaming by 57.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock worth $35,000 after purchasing an additional 189 shares in the last quarter. Blue Trust Inc. lifted its position in Boyd Gaming by 58.2% in 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 during the period. EntryPoint Capital LLC purchased a new stake in shares of Boyd Gaming in the first quarter valued at approximately $90,000. Finally, Covestor Ltd grew its stake in shares of Boyd Gaming by 132.6% during the 1st quarter. Covestor Ltd now owns 1,742 shares of the company's stock worth $117,000 after purchasing an additional 993 shares during the period. Hedge funds and other 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.