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

Boyd Gaming (NYSE:BYD) had its price target upped by research analysts at Susquehanna from $69.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential upside of 0.24% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, December 17th. Wells Fargo & Company lifted their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays upped their price objective on Boyd Gaming from $71.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a research note on Thursday, January 16th. Finally, Stifel Nicolaus raised their price objective on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.

Boyd Gaming Stock Down 0.0 %

Shares of Boyd Gaming stock traded down $0.01 on Tuesday, hitting $76.82. 88,342 shares of the company traded hands, compared to its average volume of 854,608. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The company has a market cap of $6.79 billion, a PE ratio of 14.66, a PEG ratio of 4.28 and a beta of 1.54. The company has a 50-day moving average price of $73.79 and a 200 day moving average price of $67.10. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $78.58.

Boyd Gaming announced that its board has authorized a stock buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Boyd Gaming news, CFO Josh Hirsberg sold 21,549 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at $31,330,269.45. This represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of Boyd Gaming 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 sale, 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. In the last ninety days, insiders sold 122,209 shares of company stock valued at $8,846,394. Company insiders own 28.40% of the company’s stock.

Institutional Trading of Boyd Gaming

Several institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its position in Boyd Gaming by 105.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,941 shares of the company’s stock valued at $141,000 after buying an additional 998 shares in the last quarter. Truist Financial Corp boosted its stake in Boyd Gaming by 20.7% during the 4th quarter. Truist Financial Corp now owns 4,458 shares of the company’s stock worth $323,000 after purchasing an additional 765 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Boyd Gaming during the 4th quarter worth $215,000. Sanctuary Advisors LLC increased its position in shares of Boyd Gaming by 1.8% during the fourth quarter. Sanctuary Advisors LLC now owns 48,205 shares of the company’s stock valued at $3,751,000 after acquiring an additional 836 shares during the last quarter. Finally, Allworth Financial LP raised its position in Boyd Gaming by 2,735.1% in the fourth quarter. Allworth Financial LP now owns 1,049 shares of the company’s stock valued at $79,000 after purchasing an additional 1,012 shares during the period. Institutional investors own 76.81% of the company’s stock.

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.