Barclays Issues Positive Forecast for Boyd Gaming (NYSE:BYD) Stock Price

Boyd Gaming (NYSE:BYD - Get Free Report) had its price objective increased by investment analysts at Barclays from $73.00 to $87.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 5.89% from the company's previous close.

BYD has been the topic of a number of other reports. Susquehanna downgraded Boyd Gaming from a "positive" rating to a "neutral" rating and upped their price target for the company from $76.00 to $86.00 in a report on Friday, July 11th. Morgan Stanley reaffirmed a "sell" rating on shares of Boyd Gaming in a report on Friday, July 11th. Truist Financial upped their price target on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday. Raymond James Financial upped their price target on Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. initiated coverage on Boyd Gaming in a report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Boyd Gaming has an average rating of "Hold" and an average target price of $84.85.

Boyd Gaming Stock Down 0.3%

Shares of NYSE BYD traded down $0.28 during trading on Friday, reaching $82.16. The company had a trading volume of 924,267 shares, compared to its average volume of 946,897. Boyd Gaming has a 12-month low of $52.76 and a 12-month high of $87.76. The stock has a market cap of $6.69 billion, a PE ratio of 13.40, a P/E/G ratio of 2.97 and a beta of 1.26. The business's 50-day moving average is $77.11 and its 200 day moving average is $73.21. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.10. The firm had revenue of $991.57 million for the quarter, compared to the consensus estimate of $976.38 million. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The company's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. As a group, equities analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in shares of Boyd Gaming by 24.5% in the second quarter. Parallel Advisors LLC now owns 685 shares of the company's stock worth $54,000 after buying an additional 135 shares during the period. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 24.2% in the second quarter. GAMMA Investing LLC now owns 960 shares of the company's stock worth $75,000 after buying an additional 187 shares during the period. Advisors Asset Management Inc. grew its position in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock worth $36,000 after purchasing an additional 196 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Boyd Gaming by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company's stock worth $1,224,000 after purchasing an additional 200 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Boyd Gaming by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 47,753 shares of the company's stock worth $3,143,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 76.81% of the company's stock.

About Boyd Gaming

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.