Boyd Gaming (NYSE:BYD) Given New $89.00 Price Target at JPMorgan Chase & Co.

Boyd Gaming (NYSE:BYD) had its target price raised by JPMorgan Chase & Co. from $87.00 to $89.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also commented on BYD. Raymond James Financial reiterated an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. Barclays boosted their target price on shares of Boyd Gaming from $73.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Macquarie boosted their target price on shares of Boyd Gaming from $74.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Stifel Nicolaus boosted their target price on shares of Boyd Gaming from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Finally, Susquehanna downgraded shares of Boyd Gaming from a “positive” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $86.00 in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.67.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $82.12 on Thursday. Boyd Gaming has a 12 month low of $58.94 and a 12 month high of $88.49. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $6.58 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.34 and a beta of 1.30. The company’s fifty day moving average price is $84.57 and its two-hundred day moving average price is $78.08.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. The firm had revenue of $707.32 million for the quarter. On average, research analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. Boyd Gaming’s dividend payout ratio is currently 11.08%.

Insider Buying and Selling at Boyd Gaming

In related news, CFO Josh Hirsberg sold 40,035 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $85.41, for a total transaction of $3,419,389.35. Following the completion of the sale, the chief financial officer owned 420,185 shares of the company’s stock, valued at $35,888,000.85. This represents a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ted Bogich sold 16,497 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $83.18, for a total transaction of $1,372,220.46. Following the sale, the chief operating officer directly owned 45,116 shares of the company’s stock, valued at approximately $3,752,748.88. This represents a 26.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,438 shares of company stock worth $32,638,085. 27.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boyd Gaming

A number of institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Boyd Gaming by 219.8% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371 shares of the company’s stock valued at $29,000 after purchasing an additional 255 shares during the period. Advisors Asset Management Inc. boosted its stake in Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after purchasing an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Boyd Gaming during the 2nd quarter valued at about $39,000. Geneos Wealth Management Inc. boosted its stake in Boyd Gaming by 139.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after purchasing an additional 361 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $51,000 after purchasing an additional 313 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.