Boyd Gaming (NYSE:BYD) Price Target Increased to $75.00 by Analysts at Wells Fargo & Company

Boyd Gaming (NYSE:BYD) had its target price lifted by Wells Fargo & Company from $71.00 to $75.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on BYD. Barclays boosted their price objective on shares of Boyd Gaming from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their price objective on Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stifel Nicolaus upped their target price on Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Macquarie decreased their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $64.97 on Thursday. The firm has a market cap of $6.16 billion, a P/E ratio of 11.66 and a beta of 1.57. The business’s 50 day moving average is $61.59 and its 200-day moving average is $58.44. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $68.46.

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

Boyd Gaming Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s dividend payout ratio is 12.21%.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’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 sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the director now owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marianne Boyd Johnson sold 73,130 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the sale, the chairman now directly 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

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Boyd Gaming by 11,891.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 62,117 shares of the company’s stock valued at $4,016,000 after purchasing an additional 61,599 shares during the period. Raymond James & Associates grew its position in shares of Boyd Gaming by 0.6% in the 3rd quarter. Raymond James & Associates now owns 67,439 shares of the company’s stock valued at $4,360,000 after buying an additional 403 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Boyd Gaming in the third quarter valued at about $201,000. AlphaMark Advisors LLC raised its position in shares of Boyd Gaming by 5.8% during the third quarter. AlphaMark Advisors LLC now owns 8,529 shares of the company’s stock worth $551,000 after acquiring an additional 466 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Boyd Gaming by 10.5% in the third quarter. Creative Planning now owns 8,797 shares of the company’s stock worth $569,000 after acquiring an additional 838 shares during the period. Institutional investors own 76.81% of the company’s stock.

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.