Boyd Gaming (NYSE:BYD) Raised to “Positive” at Susquehanna

Boyd Gaming (NYSE:BYD) was upgraded by analysts at Susquehanna from a “neutral” rating to a “positive” rating in a research note issued on Monday, Marketbeat.com reports. The firm currently has a $83.00 target price on the stock, down from their previous target price of $87.00. Susquehanna’s price target indicates a potential upside of 15.83% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Mizuho decreased their target price on Boyd Gaming from $104.00 to $102.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Citigroup reaffirmed a “market perform” rating on shares of Boyd Gaming in a report on Tuesday, October 13th. Benchmark started coverage on shares of Boyd Gaming in a research report on Monday, June 22nd. They issued a “buy” rating and a $100.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Boyd Gaming from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.93.

Boyd Gaming Stock Performance

Shares of NYSE BYD opened at $71.65 on Monday. The stock has a fifty day moving average price of $74.91 and a two-hundred day moving average price of $81.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.74 and a current ratio of 0.77. The firm has a market cap of $5.21 billion, a P/E ratio of 3.15, a PEG ratio of 1.26 and a beta of 1.12. Boyd Gaming has a 1 year low of $65.00 and a 1 year high of $91.41.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $1.87 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts forecast that Boyd Gaming will post 7.11 EPS for the current fiscal year.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CFO Josh Hirsberg sold 12,777 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the transaction, the chief financial officer owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.82% of the company’s stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Boyd Gaming by 23.0% during the 1st quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $54,000 after buying an additional 122 shares during the period. Assetmark Inc. lifted its stake in Boyd Gaming by 9.1% during the first quarter. Assetmark Inc. now owns 1,553 shares of the company’s stock valued at $128,000 after buying an additional 129 shares in the last quarter. Optas LLC lifted its stake in Boyd Gaming by 4.1% during the first quarter. Optas LLC now owns 3,486 shares of the company’s stock valued at $286,000 after buying an additional 138 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Boyd Gaming by 54.3% in the first quarter. Altshuler Shaham Ltd now owns 452 shares of the company’s stock worth $37,000 after buying an additional 159 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Boyd Gaming by 62.8% in the first quarter. Bessemer Group Inc. now owns 526 shares of the company’s stock worth $43,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming News Summary

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Susquehanna upgraded Boyd Gaming to “Positive” and set an $83 price target. Although the target was reduced from $87, the upgrade signals improving confidence in the stock and still implies meaningful upside from recent trading levels. Susquehanna upgrades Boyd Gaming stock to Positive with USD 83 target
• Positive Sentiment: Morgan Stanley raised its rating to “Overweight” from “Equal-weight,” citing positive catalysts for Boyd Gaming. The upgrade prompted favorable market attention and reinforces the view that the shares may be undervalued. Morgan Stanley upgrades Boyd Gaming to overweight
• Positive Sentiment: Truist lowered its price target to $100 from $110 but maintained a “Buy” rating. Despite the target reduction, the revised target still represents substantial potential upside, keeping the firm’s overall stance bullish.

Boyd Gaming Company Profile

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.