Boyd Gaming (NYSE:BYD) Price Target Cut to $85.00 by Analysts at Truist Financial

Boyd Gaming (NYSE:BYD - Get Free Report) had its price objective dropped by research analysts at Truist Financial from $92.00 to $85.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 25.83% from the company's previous close.

BYD has been the topic of a number of other research reports. Barclays lifted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Mizuho increased their target price on Boyd Gaming from $79.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Stifel Nicolaus lifted their price target on Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, February 7th. JMP Securities reaffirmed a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.00.

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Boyd Gaming Trading Up 2.8 %

Shares of NYSE BYD traded up $1.84 during midday trading on Tuesday, reaching $67.55. 912,355 shares of the stock were exchanged, compared to its average volume of 955,144. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $80.50. The business has a 50-day simple moving average of $73.18 and a two-hundred day simple moving average of $71.11. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, equities research analysts expect that Boyd Gaming will post 6.52 EPS for the current year.

Boyd Gaming declared that its Board of Directors has approved a share repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity at Boyd Gaming

In related news, Director Christine J. Spadafor sold 1,125 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the transaction, the director now owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the sale, the chairman now owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock worth $5,158,490 over the last three months. Company insiders own 21.97% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company's stock worth $29,000 after buying an additional 175 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Boyd Gaming by 47.4% during the 4th 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. CoreCap Advisors LLC boosted its stake in Boyd Gaming by 91.0% during the fourth quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after acquiring an additional 273 shares in the last quarter. Quarry LP grew its holdings in Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company's stock worth $56,000 after purchasing an additional 524 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Boyd Gaming in the third quarter valued at $64,000. 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.