JPMorgan Chase & Co. Issues Positive Forecast for Boyd Gaming (NYSE:BYD) Stock Price

Boyd Gaming (NYSE:BYD) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $74.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.60% from the company’s previous close.

A number of other analysts have also weighed in on BYD. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a report on Thursday, January 16th. Argus upgraded Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Tuesday, December 17th. Stifel Nicolaus upped their target price on Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Morgan Stanley lifted their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.80.

Boyd Gaming Trading Up 0.4 %

Shares of NYSE:BYD traded up $0.31 during trading on Friday, hitting $75.76. The company had a trading volume of 122,551 shares, compared to its average volume of 843,228. The company has a fifty day simple moving average of $73.15 and a two-hundred day simple moving average of $66.01. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 4.21 and a beta of 1.54. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. Boyd Gaming has a one year low of $49.34 and a one year high of $76.73.

Boyd Gaming declared that its board has initiated a share buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the transaction, the chief executive officer now owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Boyd sold 25,155 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total transaction of $1,744,499.25. Following the completion of the transaction, the director now owns 1,487,970 shares of the company’s stock, valued at approximately $103,190,719.50. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,364 shares of company stock worth $10,590,893 in the last 90 days. Insiders own 27.94% of the company’s stock.

Institutional Trading of Boyd Gaming

A number of institutional investors and hedge funds have recently bought and sold shares of BYD. UMB Bank n.a. raised its position in shares of Boyd Gaming by 80.3% during the 4th quarter. UMB Bank n.a. now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC raised its position in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Covestor Ltd boosted its stake in Boyd Gaming by 54.9% during the third quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after buying an additional 208 shares during the period. Quarry LP grew its holdings in Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after purchasing an additional 524 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Boyd Gaming by 921.8% in the third quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after buying an additional 802 shares during the period. 76.81% of the stock is currently owned by institutional investors.

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.