Boyd Gaming (NYSE:BYD) Lowered to "Neutral" Rating by Susquehanna

Boyd Gaming (NYSE:BYD - Get Free Report) was downgraded by Susquehanna from a "positive" rating to a "neutral" rating in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $86.00 price objective on the stock, up from their previous price objective of $76.00. Susquehanna's price objective suggests a potential upside of 7.85% from the company's previous close.

BYD has been the topic of several other research reports. Raymond James Financial raised 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. Macquarie restated a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a report on Friday, April 25th. Stifel Nicolaus raised their target price on Boyd Gaming from $71.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Mizuho reduced their target price on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial reduced their target price on Boyd Gaming from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Boyd Gaming currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.62.

Boyd Gaming Stock Performance

Shares of BYD stock traded down $5.63 during trading hours on Friday, reaching $79.74. 3,782,229 shares of the company's stock were exchanged, compared to its average volume of 937,966. The business has a fifty day moving average price of $75.98 and a 200-day moving average price of $72.86. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $6.49 billion, a P/E ratio of 13.01, a P/E/G ratio of 3.07 and a beta of 1.26. Boyd Gaming has a fifty-two week low of $52.76 and a fifty-two week high of $87.76.

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

Institutional Investors Weigh In On Boyd Gaming

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Boyd Gaming by 294.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,066 shares of the company's stock valued at $240,000 after buying an additional 2,289 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Boyd Gaming by 4.5% in the 2nd quarter. Exchange Traded Concepts LLC now owns 15,202 shares of the company's stock valued at $1,189,000 after buying an additional 650 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Boyd Gaming by 11.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,264 shares of the company's stock valued at $348,000 after buying an additional 441 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in Boyd Gaming by 8.8% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,282 shares of the company's stock valued at $335,000 after buying an additional 348 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company's stock valued at $54,000 after buying an additional 135 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, 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.