Boyd Gaming (NYSE:BYD) Given New $90.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Boyd Gaming to $90 (from $89) while maintaining a "neutral" rating, with the consensus analyst target around $92.42 and a consensus "Hold" rating (5 Buys, 9 Holds).
• Boyd's Q1 results missed expectations—EPS $1.60 vs. $1.76 estimate and revenue $997.4M vs. ~$1.04B—which pressured the stock to about $83.59 on heavy volume.
• The board authorized a $500 million share buyback (up to ~7.7% of shares outstanding) even as the company outlined a sizeable $650–700M 2026 capex plan, signaling management sees value but expects higher near-term cash needs.

Boyd Gaming (NYSE:BYD - Get Free Report) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $89.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 7.67% from the stock's current price.

Several other brokerages have also issued reports on BYD. Weiss Ratings reiterated a "buy (b)" rating on shares of Boyd Gaming in a research report on Monday, December 29th. Stifel Nicolaus cut their target price on shares of Boyd Gaming from $95.00 to $91.00 and set a "hold" rating for the company in a research report on Friday. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research report on Tuesday, January 13th. Morgan Stanley restated a "mixed" rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Finally, Citigroup upped their price target on shares of Boyd Gaming from $86.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $92.42.

Boyd Gaming Price Performance

Shares of BYD traded down $5.56 during mid-day trading on Friday, reaching $83.59. 1,489,466 shares of the stock traded hands, compared to its average volume of 905,515. The firm has a fifty day moving average price of $83.79 and a 200 day moving average price of $83.49. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 3.66, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78. Boyd Gaming has a 1 year low of $67.67 and a 1 year high of $89.96.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.04 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Boyd Gaming will post 7.56 earnings per share for the current year.

Boyd Gaming declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, insider Stephen S. Thompson sold 19,530 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the completion of the transaction, the insider directly owned 22,009 shares of the company's stock, valued at approximately $1,839,732.31. This represents a 47.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Josh Hirsberg sold 23,924 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the transaction, the chief financial officer directly owned 435,746 shares of the company's stock, valued at approximately $37,413,151.56. This trade represents a 5.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 73,454 shares of company stock valued at $6,231,827. Insiders own 22.82% of the company's stock.

Hedge Funds Weigh In On Boyd Gaming

A number of institutional investors have recently bought and sold shares of the stock. Foster & Motley Inc. raised its stake in Boyd Gaming by 19.5% in the first quarter. Foster & Motley Inc. now owns 98,730 shares of the company's stock worth $8,114,000 after buying an additional 16,119 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Boyd Gaming in the first quarter worth about $1,381,000. Blue Trust Inc. raised its stake in Boyd Gaming by 23.0% in the first quarter. Blue Trust Inc. now owns 653 shares of the company's stock worth $54,000 after buying an additional 122 shares in the last quarter. SG Americas Securities LLC raised its stake in Boyd Gaming by 426.0% in the first quarter. SG Americas Securities LLC now owns 78,616 shares of the company's stock worth $6,461,000 after buying an additional 63,669 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Boyd Gaming by 32.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 108,984 shares of the company's stock worth $8,956,000 after buying an additional 26,737 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Key Stories Impacting Boyd Gaming

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Board authorizes $500 million share repurchase (up to ~7.7% of shares outstanding), signaling management believes shares are undervalued and supporting future EPS. RTT News
• Positive Sentiment: Company highlights diversified operations and operating-efficiency focus in the earnings release, which management says helped results despite pressures in some local markets. Press Release
• Neutral Sentiment: Boyd outlined a sizeable 2026 capital-expenditure plan ($650M–$700M) while reiterating online EBITDAR guidance of $30M–$35M — indicates continued investment in growth/maintenance but also higher near-term cash needs. Seeking Alpha
• Negative Sentiment: Q1 results missed Wall Street: EPS $1.60 vs. consensus ~$1.76 and revenue $997.4M vs. ~$1.04B — weaker-than-expected Las Vegas locals and other mix issues drove the shortfall and pressured the stock. Benzinga
• Negative Sentiment: Immediate market reaction was negative — shares moved lower in pre-market and intraday trading following the miss and guidance/cost commentary. (This drop reflects investor concern over near-term momentum despite the buyback.) Benzinga market coverage
• Negative Sentiment: Stifel lowered its price target from $95 to $91 and placed a "hold" — a more cautious tone from an analyst adds pressure on sentiment and limits near-term upside expectations. The Fly

About Boyd Gaming

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.

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