Boyd Gaming (NYSE:BYD) Given New $74.00 Price Target at Barclays

Boyd Gaming (NYSE:BYD) had its price objective increased by Barclays from $71.00 to $74.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $69.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Tuesday, December 17th. Wells Fargo & Company boosted their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial raised their price target on shares of Boyd Gaming from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Mizuho restated an “outperform” rating and issued a $79.00 price target (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boyd Gaming has an average rating of “Moderate Buy” and an average price target of $92.80.

Boyd Gaming Stock Performance

NYSE:BYD opened at $75.34 on Friday. The business’s 50-day moving average price is $73.21 and its two-hundred day moving average price is $66.15. Boyd Gaming has a twelve month low of $49.34 and a twelve month high of $76.73. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The stock has a market cap of $6.66 billion, a P/E ratio of 14.38, a PEG ratio of 4.21 and a beta of 1.54.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s payout ratio is 12.98%.

Boyd Gaming announced that its Board of Directors has approved a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Boyd Gaming

In related news, Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the sale, the director now directly owns 5,977 shares in the company, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Josh Hirsberg sold 21,549 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the sale, the chief financial officer now directly owns 438,615 shares in the company, valued at approximately $31,330,269.45. The trade was a 4.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,364 shares of company stock valued at $10,590,893. Corporate insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Several large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its position in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 148 shares during the period. Covestor Ltd increased its stake in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Quarry LP boosted its holdings in Boyd Gaming by 150.1% in the third quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after acquiring an additional 524 shares during the last quarter. 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 purchasing an additional 802 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.