Boyd Gaming (NYSE:BYD) Stock Price Expected to Rise, Mizuho Analyst Says

Boyd Gaming (NYSE:BYD) had its target price boosted by equities research analysts at Mizuho from $96.00 to $101.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 14.96% from the stock’s current price.

Several other brokerages have also recently commented on BYD. Weiss Ratings raised Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 4th. Barclays dropped their price objective on shares of Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 24th. Susquehanna reduced their price objective on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group initiated coverage on shares of Boyd Gaming in a research report on Friday, June 26th. They set a “neutral” rating and a $91.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.15.

Boyd Gaming Stock Down 2.1%

BYD stock opened at $87.85 on Friday. Boyd Gaming has a twelve month low of $76.33 and a twelve month high of $91.00. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.53 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The business’s 50-day simple moving average is $85.19 and its 200 day simple moving average is $84.82.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The firm had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.Boyd Gaming’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. On average, research analysts anticipate that Boyd Gaming will post 7.23 earnings per share for the current year.

Boyd Gaming announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 62,914 shares of Boyd Gaming stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the completion of the transaction, the chairman directly owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keith Smith sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total transaction of $8,590,000.00. Following the completion of the sale, the chief executive officer owned 996,981 shares in the company, valued at $85,640,667.90. This represents a 9.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 200,000 shares of company stock valued at $17,038,987 over the last quarter. Corporate insiders own 22.82% of the company’s stock.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYD. Altshuler Shaham Ltd bought a new position in shares of Boyd Gaming in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new stake in Boyd Gaming during the 4th quarter worth approximately $25,000. Advisors Asset Management Inc. grew its position in Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares during the last quarter. First Horizon Corp acquired a new stake in Boyd Gaming during the 4th quarter valued at $41,000. Finally, Bessemer Group Inc. raised its position in Boyd Gaming by 62.8% in the 1st quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock valued at $43,000 after purchasing an additional 203 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.