Mizuho Issues Positive Forecast for Boyd Gaming (NYSE:BYD) Stock Price

Boyd Gaming (NYSE:BYD) had its price target hoisted by Mizuho from $79.00 to $86.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 9.65% from the company’s current price.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Barclays lifted their price target on Boyd Gaming from $71.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Wells Fargo & Company upped their price objective on Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Morgan Stanley increased their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.60.

Boyd Gaming Stock Up 2.5 %

Shares of NYSE:BYD opened at $78.43 on Friday. 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 business’s 50 day moving average is $74.03 and its 200 day moving average is $67.37. The stock has a market cap of $6.93 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 4.28 and a beta of 1.54. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $78.63.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.10% and a net margin of 13.01%. Sell-side analysts predict that Boyd Gaming will post 6.35 EPS for the current year.

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

Insider Activity

In related news, CEO Keith Smith sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $71.77, for a total transaction of $2,153,100.00. Following the completion of the transaction, the chief executive officer now owns 1,131,202 shares of the company’s stock, valued at $81,186,367.54. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,660 shares of company stock valued at $7,307,149. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of Boyd Gaming by 36.9% in the 2nd quarter. AQR Capital Management LLC now owns 6,495 shares of the company’s stock valued at $357,000 after purchasing an additional 1,749 shares during the period. Creative Planning increased its holdings in Boyd Gaming by 61.3% in the second quarter. Creative Planning now owns 7,959 shares of the company’s stock valued at $439,000 after buying an additional 3,025 shares in the last quarter. CX Institutional boosted its stake in shares of Boyd Gaming by 10.7% during the 3rd quarter. CX Institutional now owns 16,175 shares of the company’s stock worth $1,046,000 after acquiring an additional 1,568 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of Boyd Gaming by 5.8% during the 3rd quarter. AlphaMark Advisors LLC now owns 8,529 shares of the company’s stock valued at $551,000 after acquiring an additional 466 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Boyd Gaming in the 3rd quarter valued at about $201,000. 76.81% of the stock is owned by institutional investors and hedge funds.

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.