Susquehanna Boosts Boyd Gaming (NYSE:BYD) Price Target to $77.00

Boyd Gaming (NYSE:BYD) had its target price lifted by equities researchers at Susquehanna from $69.00 to $77.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential upside of 0.71% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, December 17th. Morgan Stanley lifted their price target on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Barclays lifted their target price on Boyd Gaming from $71.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Seven equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.13.

Boyd Gaming Trading Down 0.3 %

NYSE BYD opened at $76.46 on Tuesday. Boyd Gaming has a one year low of $49.34 and a one year high of $78.58. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The firm has a market cap of $6.76 billion, a P/E ratio of 14.59, a P/E/G ratio of 4.28 and a beta of 1.54. The stock’s 50-day moving average is $73.93 and its 200-day moving average is $67.29.

Boyd Gaming declared that its Board of Directors has approved a share repurchase plan on Thursday, December 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $71.77, for a total transaction of $2,153,100.00. Following the completion of the sale, the chief executive officer now owns 1,131,202 shares of the company’s stock, valued at $81,186,367.54. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares in the company, valued at approximately $452,339.36. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,660 shares of company stock worth $7,307,149 in the last ninety days. Insiders own 28.40% of the company’s stock.

Institutional Trading of Boyd Gaming

Several hedge funds and other institutional investors have recently modified their holdings of BYD. State Street Corp raised its holdings in Boyd Gaming by 0.8% in the 3rd quarter. State Street Corp now owns 2,108,672 shares of the company’s stock valued at $136,680,000 after acquiring an additional 17,591 shares during the period. Geode Capital Management LLC grew its position in shares of Boyd Gaming by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company’s stock valued at $74,611,000 after purchasing an additional 33,379 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boyd Gaming by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock worth $62,835,000 after purchasing an additional 54,128 shares during the period. Victory Capital Management Inc. lifted its holdings in Boyd Gaming by 6,158.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock worth $58,761,000 after purchasing an additional 894,383 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Boyd Gaming by 2.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 679,178 shares of the company’s stock valued at $42,523,000 after purchasing an additional 16,159 shares during the period. Institutional investors 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.