Boyd Gaming (NYSE:BYD) Given New $74.00 Price Target at JPMorgan Chase & Co.

Boyd Gaming (NYSE:BYD) had its price objective increased by JPMorgan Chase & Co. from $69.00 to $74.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Truist Financial raised their price objective on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Mizuho reiterated an “outperform” rating and issued a $79.00 price objective (up from $78.00) on shares of Boyd Gaming in a report on Friday, October 25th. Stifel Nicolaus upped their target price on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Barclays upped their price objective on shares of Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Boyd Gaming Stock Up 0.7 %

Shares of NYSE BYD opened at $74.95 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The business has a 50-day moving average of $70.30 and a 200-day moving average of $62.12. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 9.93 and a beta of 1.54. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $76.73.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.91%. Boyd Gaming’s dividend payout ratio (DPR) is 12.98%.

Boyd Gaming declared that its board has authorized a share buyback plan on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In other news, CEO Keith Smith sold 40,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the transaction, the chief executive officer now directly owns 1,161,202 shares of the company’s stock, valued at $85,336,734.98. This represents a 3.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Boyd sold 25,155 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $69.35, for a total value of $1,744,499.25. Following the sale, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,704 shares of company stock worth $10,540,944. 27.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of Boyd Gaming by 6,158.8% in the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after acquiring an additional 894,383 shares during the period. Long Pond Capital LP purchased a new stake in Boyd Gaming during the 2nd quarter valued at approximately $20,440,000. Ariel Investments LLC grew its holdings in Boyd Gaming by 12.5% during the 2nd quarter. Ariel Investments LLC now owns 3,031,691 shares of the company’s stock valued at $167,046,000 after buying an additional 335,984 shares in the last quarter. American Century Companies Inc. raised its position in shares of Boyd Gaming by 19.7% during the second quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock valued at $63,349,000 after buying an additional 189,226 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Boyd Gaming by 4,816.4% during the third quarter. International Assets Investment Management LLC now owns 184,560 shares of the company’s stock worth $119,320,000 after acquiring an additional 180,806 shares during the last quarter. 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.