Boyd Gaming (NYSE:BYD) Stock Rating Raised to Positive at Susquehanna

Boyd Gaming (NYSE:BYD) was upgraded by research analysts at Susquehanna from a “neutral” rating to a “positive” rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has a $83.00 target price on the stock. Susquehanna’s target price would suggest a potential upside of 18.71% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Boyd Gaming from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $80.00 price objective on shares of Boyd Gaming in a research note on Tuesday, October 13th. Citigroup restated a “market perform” rating on shares of Boyd Gaming in a research report on Tuesday, October 13th. Weiss Ratings upgraded shares of Boyd Gaming from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, Barclays decreased their target price on shares of Boyd Gaming from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.21.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $69.92 on Monday. Boyd Gaming has a 12-month low of $65.00 and a 12-month high of $91.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average price is $75.34 and its two-hundred day moving average price is $82.01. The stock has a market cap of $5.08 billion, a PE ratio of 3.08, a P/E/G ratio of 1.24 and a beta of 1.12.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.87 earnings per share. As a group, analysts expect that Boyd Gaming will post 7.16 earnings per share for the current fiscal year.

Insider Activity at Boyd Gaming

In other news, CFO Josh Hirsberg sold 12,777 shares of Boyd Gaming stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total transaction of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 22.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BYD. BlackRock Inc. bought a new stake in Boyd Gaming during the 2nd quarter worth approximately $486,737,000. Quantinno Capital Management LP raised its stake in shares of Boyd Gaming by 18.2% during the first quarter. Quantinno Capital Management LP now owns 925,070 shares of the company’s stock valued at $76,022,000 after acquiring an additional 142,468 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Boyd Gaming during the second quarter valued at $70,043,000. First Trust Advisors LP raised its stake in shares of Boyd Gaming by 1.1% during the first quarter. First Trust Advisors LP now owns 672,724 shares of the company’s stock valued at $55,284,000 after acquiring an additional 7,463 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of Boyd Gaming during the second quarter worth $41,184,000. Institutional investors own 76.81% of the company’s stock.

Boyd Gaming Company Profile

Boyd Gaming Corporation is a diversified gaming and entertainment company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants and entertainment venues, primarily serving regional and destination markets in the United States. Its properties offer casino gaming, including slot machines, table games and poker, along with hotel accommodations, dining, entertainment and other hospitality services.

Boyd Gaming operates properties under brands that include Sam’s Town, The Orleans, Gold Coast, Suncoast, Fremont and California Hotel and Casino in Nevada, as well as additional casinos in states such as Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.