Susquehanna Lowers Boyd Gaming (NYSE:BYD) Price Target to $87.00

Boyd Gaming (NYSE:BYD) had its price target dropped by stock analysts at Susquehanna from $89.00 to $87.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s price target would indicate a potential upside of 3.36% from the company’s current price.

A number of other equities analysts also recently issued reports on BYD. Truist Financial set a $110.00 price objective on shares of Boyd Gaming in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Boyd Gaming in a research note on Wednesday, December 24th. UBS Group set a $110.00 target price on Boyd Gaming in a research note on Wednesday, December 24th. Finally, Mizuho set a $100.00 target price on Boyd Gaming in a research note on Monday, February 2nd. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.42.

Boyd Gaming Stock Down 0.1%

BYD traded down $0.12 during mid-day trading on Tuesday, reaching $84.17. 40,329 shares of the stock were exchanged, compared to its average volume of 906,145. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. The stock has a market capitalization of $6.34 billion, a PE ratio of 3.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The company has a 50 day moving average price of $83.00 and a two-hundred day moving average price of $83.36. Boyd Gaming has a 1 year low of $60.11 and a 1 year high of $89.96.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.33. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.96 EPS. As a group, research analysts anticipate that Boyd Gaming will post 6.52 EPS for the current year.

Insider Transactions at Boyd Gaming

In other news, CFO Josh Hirsberg sold 23,924 shares of Boyd Gaming stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares in the company, valued at $37,413,151.56. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction on Friday, February 27th. The stock was sold at an average price of $83.59, for a total value of $1,632,512.70. Following the sale, the insider owned 22,009 shares in the company, valued at $1,839,732.31. The trade was a 47.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 73,454 shares of company stock worth $6,231,827 in the last ninety days. Company insiders own 27.94% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Boyd Gaming in the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC bought a new stake in Boyd Gaming in the 4th quarter valued at about $25,000. Advisors Asset Management Inc. raised its stake in Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock valued at $36,000 after acquiring an additional 196 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Boyd Gaming in the 2nd quarter valued at about $39,000. Finally, First Horizon Corp bought a new stake in Boyd Gaming in the 4th quarter valued at about $41,000. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.