Boyd Gaming (NYSE:BYD) Given “Outperform” Rating at Mizuho

Boyd Gaming (NYSE:BYD)‘s stock had its “outperform” rating reaffirmed by stock analysts at Mizuho in a research note issued on Friday, Benzinga reports. They presently have a $79.00 target price on the stock, up from their previous target price of $78.00. Mizuho’s price target would suggest a potential upside of 15.53% from the stock’s current price.

BYD has been the subject of a number of other research reports. Macquarie lowered their price objective on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Boyd Gaming from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday. Barclays increased their price objective on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday. Truist Financial boosted their target price on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. Finally, StockNews.com raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.38.

Boyd Gaming Trading Up 6.3 %

Shares of NYSE BYD traded up $4.07 during midday trading on Friday, reaching $68.38. 1,244,524 shares of the stock were exchanged, compared to its average volume of 915,617. The stock has a 50 day moving average price of $62.20 and a 200-day moving average price of $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. The company has a market capitalization of $6.49 billion, a P/E ratio of 12.35 and a beta of 1.57. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $70.34.

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

Insiders Place Their Bets

In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the sale, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now directly owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine J. Spadafor sold 1,242 shares of Boyd Gaming stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the sale, the director now directly owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 27.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ariel Investments LLC increased 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 worth $167,046,000 after purchasing an additional 335,984 shares during the last quarter. Boston Partners increased its stake in shares of Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock worth $203,276,000 after buying an additional 274,876 shares during the last quarter. Bamco Inc. NY raised its holdings in Boyd Gaming by 4.0% in the first quarter. Bamco Inc. NY now owns 1,899,344 shares of the company’s stock valued at $127,864,000 after acquiring an additional 73,491 shares in the last quarter. American Century Companies Inc. boosted its stake in Boyd Gaming by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 1,149,701 shares of the company’s stock valued at $63,349,000 after acquiring an additional 189,226 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Boyd Gaming by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,002,438 shares of the company’s stock worth $67,485,000 after acquiring an additional 3,087 shares in the last quarter. 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.