Mizuho Increases Boyd Gaming (NYSE:BYD) Price Target to $99.00

Key Points

• Mizuho raised the price target for Boyd Gaming from $89.00 to $99.00, indicating a potential upside of 23.89% from its previous close.
• Analyst ratings vary, with seven analysts giving a "Buy" rating, while Zacks Research recently downgraded the stock from "strong-buy" to "hold."
• Boyd Gaming's stock experienced a decline of $5.07, trading at $79.91 with analysts predicting earnings per share (EPS) of 6.52 for the current fiscal year.

Boyd Gaming (NYSE:BYD - Get Free Report) had its price target increased by analysts at Mizuho from $89.00 to $99.00 in a research note issued on Friday, Marketbeat reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price target would suggest a potential upside of 23.89% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. Truist Financial increased their price objective on shares of Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Zacks Research cut Boyd Gaming from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Barclays upped their target price on shares of Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research report on Friday, July 11th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Boyd Gaming in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $89.50.

Boyd Gaming Price Performance

BYD stock traded down $5.07 on Friday, reaching $79.91. 203,165 shares of the company's stock were exchanged, compared to its average volume of 1,004,220. The stock has a fifty day moving average of $84.59 and a 200-day moving average of $78.75. The firm has a market cap of $6.41 billion, a PE ratio of 12.35, a P/E/G ratio of 2.22 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.53. Boyd Gaming has a twelve month low of $58.94 and a twelve month high of $88.49.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The company had revenue of $707.32 million during the quarter. Boyd Gaming had a net margin of 14.02% and a return on equity of 40.65%. As a group, equities analysts predict that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $86.62, for a total transaction of $8,662,000.00. Following the transaction, the chairman owned 1,704,379 shares in the company, valued at approximately $147,633,308.98. The trade was a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keith Smith sold 25,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $85.21, for a total value of $2,130,250.00. Following the completion of the sale, the chief executive officer owned 1,046,689 shares of the company's stock, valued at approximately $89,188,369.69. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,438 shares of company stock valued at $32,638,085. 27.94% of the stock is owned by corporate insiders.

Institutional Trading of Boyd Gaming

A number of hedge funds have recently made changes to their positions in BYD. Ruffer LLP purchased a new position in shares of Boyd Gaming in the second quarter valued at $6,471,000. Counterpoint Mutual Funds LLC purchased a new position in Boyd Gaming in the second quarter valued at about $402,000. EP Wealth Advisors LLC acquired a new stake in Boyd Gaming during the 1st quarter valued at approximately $206,000. Strs Ohio acquired a new position in shares of Boyd Gaming in the 1st quarter valued at approximately $1,939,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Boyd Gaming during the 1st quarter valued at approximately $598,000. Hedge funds and other institutional investors 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.

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