Boyd Gaming (NYSE:BYD) Given New $71.00 Price Target at Barclays

Boyd Gaming (NYSE:BYD - Free Report) had its price target boosted by Barclays from $70.00 to $71.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Macquarie dropped their target price on shares of 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 objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a "hold" rating in a report on Friday. StockNews.com upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Bank of America boosted their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Finally, 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 research report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Boyd Gaming presently has an average rating of "Moderate Buy" and an average target price of $91.38.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock traded up $5.04 during trading on Friday, hitting $69.35. 2,402,958 shares of the company's stock traded hands, compared to its average volume of 921,214. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.83 and a quick ratio of 0.79. The firm's fifty day moving average price is $62.20 and its 200 day moving average price is $58.44. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $71.00. The company has a market cap of $6.58 billion, a PE ratio of 12.45 and a beta of 1.57.

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

Boyd Gaming Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, September 13th. Boyd Gaming's dividend payout ratio is 12.21%.

Insider Buying and Selling

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm's stock in a transaction dated 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 transaction, the chairman now directly owns 1,423,498 shares of the company's stock, valued at approximately $85,737,284.54. This trade represents a 0.00 % 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. In other Boyd Gaming news, Director Christine J. Spadafor sold 1,242 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company's stock, valued at $66,154.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm's stock in a transaction dated 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 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 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

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Boyd Gaming by 57.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company's stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Boyd Gaming in the second quarter valued at approximately $29,000. Blue Trust Inc. grew its stake in shares of Boyd Gaming by 58.2% during the second quarter. Blue Trust Inc. now owns 783 shares of the company's stock worth $43,000 after buying an additional 288 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Boyd Gaming during the first quarter worth $90,000. Finally, Covestor Ltd lifted its stake in shares of Boyd Gaming by 132.6% in the 1st quarter. Covestor Ltd now owns 1,742 shares of the company's stock valued at $117,000 after acquiring an additional 993 shares during the last quarter. 76.81% of the stock is owned by institutional investors.

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.