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

Key Points

• Susquehanna cut its price target for Boyd Gaming to $87.00 (from $89.00) and left a "neutral" rating, implying only about a 3.36% upside from the current share price.
• Boyd Gaming recently beat expectations with Q EPS of $2.21 vs. $1.88 est. and revenue of $1.06B, while showing strong profitability (net margin 45.05%, ROE 30.14%) and a low P/E of 3.71.
• Insider selling has been notable recently — insiders sold 73,454 shares (~$6.23M) in the past 90 days (including sales by Stephen S. Thompson and Director William R. Boyd) while insiders still own about 27.94% of the stock.

Boyd Gaming (NYSE:BYD - Get Free Report) had its target price decreased by equities researchers at Susquehanna from $89.00 to $87.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Susquehanna's target price would indicate a potential upside of 3.36% from the stock's current price.

Several other analysts also recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Boyd Gaming in a research report on Monday, December 29th. UBS Group set a $110.00 price objective on shares of Boyd Gaming in a research report on Wednesday, December 24th. Mizuho set a $100.00 price objective on shares of Boyd Gaming in a research report on Monday, February 2nd. Morgan Stanley set a $86.00 price objective on shares of Boyd Gaming in a research report on Wednesday, February 11th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $92.42.

Boyd Gaming Trading Down 0.1%

Boyd Gaming stock traded down $0.12 during mid-day trading on Tuesday, hitting $84.17. 40,329 shares of the stock were exchanged, compared to its average volume of 906,145. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. Boyd Gaming has a 12 month low of $60.11 and a 12 month high of $89.96. The firm's fifty day simple moving average is $83.00 and its two-hundred day simple moving average is $83.36. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 3.71, a PEG ratio of 1.76 and a beta of 1.19.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.33. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 EPS. Analysts forecast that Boyd Gaming will post 6.52 EPS for the current year.

Insider Activity at Boyd Gaming

In related news, insider Stephen S. Thompson sold 19,530 shares of Boyd Gaming stock in a transaction on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the completion of the sale, the insider owned 22,009 shares of the company's stock, valued at approximately $1,839,732.31. This trade represents a 47.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William R. Boyd sold 30,000 shares of Boyd Gaming stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the sale, the director directly owned 1,930,447 shares of the company's stock, valued at approximately $163,779,123.48. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 73,454 shares of company stock valued at $6,231,827. 27.94% of the stock is owned by company insiders.

Institutional Trading of Boyd Gaming

Hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in Boyd Gaming in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new stake in Boyd Gaming in the 4th quarter valued at $25,000. First Horizon Corp purchased a new position in Boyd Gaming during the 4th quarter worth $41,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Boyd Gaming during the 2nd quarter worth $39,000. Finally, True Wealth Design LLC boosted its holdings in Boyd Gaming by 162.1% during the 3rd quarter. True Wealth Design LLC now owns 532 shares of the company's stock worth $46,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company's stock.

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.

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