Boyd Gaming (NYSE:BYD) Price Target Raised to $72.00 at Morgan Stanley

Boyd Gaming (NYSE:BYD - Free Report) had its target price upped by Morgan Stanley from $71.00 to $72.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also commented on BYD. Mizuho started coverage on Boyd Gaming in a report on Tuesday, March 26th. They issued a buy rating and a $80.00 price target on the stock. Wells Fargo & Company upped their target price on Boyd Gaming from $81.00 to $82.00 and gave the stock an overweight rating in a report on Friday, February 9th. Truist Financial upped their target price on Boyd Gaming from $76.00 to $80.00 and gave the stock a buy rating in a report on Friday, February 9th. StockNews.com upgraded Boyd Gaming from a hold rating to a buy rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upped their target price on Boyd Gaming from $78.00 to $80.00 and gave the stock an overweight rating in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of Moderate Buy and a consensus price target of $76.30.

Boyd Gaming Trading Up 1.0 %

NYSE:BYD traded up $0.65 on Tuesday, reaching $66.64. The company's stock had a trading volume of 621,935 shares, compared to its average volume of 740,703. The firm has a market cap of $6.38 billion, a PE ratio of 10.91, a PEG ratio of 3.05 and a beta of 1.60. The business's 50-day moving average price is $64.35 and its two-hundred day moving average price is $61.70. Boyd Gaming has a 1-year low of $52.42 and a 1-year high of $73.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. Equities research analysts anticipate that Boyd Gaming will post 6.21 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.17 dividend. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.68 annualized dividend and a yield of 1.02%. Boyd Gaming's dividend payout ratio is currently 11.15%.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, major shareholder William S. Boyd sold 125,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.77, for a total value of $7,971,250.00. Following the sale, the insider now owns 9,358,913 shares in the company, valued at $596,817,882.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Ted Bogich sold 41,631 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total value of $2,697,272.49. Following the transaction, the chief operating officer now owns 66,803 shares of the company's stock, valued at $4,328,166.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William S. Boyd sold 125,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the completion of the transaction, the insider now directly owns 9,358,913 shares in the company, valued at approximately $596,817,882.01. The disclosure for this sale can be found here. Insiders have sold 582,910 shares of company stock worth $37,299,461 over the last 90 days. Company insiders own 28.40% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

A number of large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its holdings in shares of Boyd Gaming by 105.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company's stock valued at $25,000 after purchasing an additional 211 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Boyd Gaming in the 4th quarter valued at $30,000. Belpointe Asset Management LLC boosted its holdings in shares of Boyd Gaming by 237.6% in the 1st quarter. Belpointe Asset Management LLC now owns 655 shares of the company's stock valued at $42,000 after purchasing an additional 461 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Boyd Gaming in the 4th quarter valued at $50,000. Finally, Quarry LP lifted its stake in shares of Boyd Gaming by 130.3% in the 1st quarter. Quarry LP now owns 822 shares of the company's stock valued at $53,000 after acquiring an additional 465 shares during the last quarter. Institutional investors and hedge funds 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.