Boyd Gaming (NYSE:BYD) Stock Rating Upgraded by Susquehanna

Boyd Gaming (NYSE:BYD) was upgraded by analysts at Susquehanna from a “neutral” rating to a “positive” rating in a report issued on Wednesday,Finviz reports. The brokerage presently has a $77.00 price target on the stock, down from their previous price target of $79.00. Susquehanna’s price objective would suggest a potential upside of 15.17% from the stock’s current price.

BYD has been the subject of a number of other reports. Truist Financial upped their price target on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of Boyd Gaming in a research report on Friday, February 7th. Stifel Nicolaus raised their price target on Boyd Gaming from $74.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their target price on Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.20.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $66.86 on Wednesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The business has a 50-day simple moving average of $74.95 and a two-hundred day simple moving average of $70.32. Boyd Gaming has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The company has a market cap of $5.60 billion, a PE ratio of 10.75, a P/E/G ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, equities analysts expect that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Boyd Gaming declared that its board has authorized a share buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares of the company’s stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total value of $49,948.80. Following the transaction, the director now owns 5,977 shares in the company, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,785 shares of company stock worth $5,208,439 over the last quarter. 27.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PharVision Advisers LLC purchased a new stake in Boyd Gaming in the 4th quarter valued at $522,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Boyd Gaming by 25.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,571 shares of the company’s stock worth $11,575,000 after purchasing an additional 32,020 shares during the last quarter. WBI Investments LLC raised its position in Boyd Gaming by 440.7% in the 4th quarter. WBI Investments LLC now owns 38,257 shares of the company’s stock worth $2,775,000 after purchasing an additional 31,182 shares during the period. State of Wyoming grew its stake in shares of Boyd Gaming by 253.1% in the fourth quarter. State of Wyoming now owns 5,597 shares of the company’s stock worth $406,000 after purchasing an additional 4,012 shares during the last quarter. Finally, Seven Six Capital Management LLC purchased a new stake in Boyd Gaming in the fourth quarter worth about $9,162,000. 76.81% of the stock is owned by institutional investors and hedge funds.

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.