Boyd Gaming (NYSE:BYD) Price Target Raised to $87.00 at Stifel Nicolaus

Boyd Gaming (NYSE:BYD - Get Free Report) had its target price raised by Stifel Nicolaus from $76.00 to $87.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' target price points to a potential upside of 9.11% from the company's current price.

Several other brokerages have also weighed in on BYD. Susquehanna lowered shares of Boyd Gaming from a "positive" rating to a "neutral" rating and increased their price objective for the company from $76.00 to $86.00 in a report on Friday. Macquarie reiterated a "neutral" rating and issued a $74.00 target price on shares of Boyd Gaming in a report on Friday, April 25th. JPMorgan Chase & Co. began coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They set a "neutral" rating and a $79.00 price objective for the company. Raymond James Financial increased their price objective on shares of Boyd Gaming from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Truist Financial lowered their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.62.

Boyd Gaming Price Performance

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

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in shares of Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after acquiring an additional 196 shares during the period. CoreCap Advisors LLC grew its position in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after acquiring an additional 273 shares during the period. GAMMA Investing LLC grew its position in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after acquiring an additional 313 shares during the period. Parallel Advisors LLC grew its position in shares of 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 acquiring an additional 135 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock valued at $66,000 after acquiring an additional 613 shares during the period. 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.