JPMorgan Chase & Co. Issues Positive Forecast for Boyd Gaming (NYSE:BYD) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for Boyd Gaming from $87.00 to $89.00, indicating a potential upside of 6.91% from the current stock price, while maintaining a "neutral" rating.
• Other analysts, including Truist Financial and Macquarie, have also boosted their price targets for Boyd Gaming, with ratings varying from "buy" to "hold".
• Boyd Gaming has a market capitalization of $6.67 billion and reported earnings per share of $1.35 last quarter, with a consensus price target of $88.67 among analysts.

Boyd Gaming (NYSE:BYD - Get Free Report) had its price target boosted by research analysts at JPMorgan Chase & Co. from $87.00 to $89.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 6.91% from the company's current price.

Other research analysts also recently issued reports about the company. Macquarie lifted their price objective on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Truist Financial lifted their price objective on Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Stifel Nicolaus boosted their price target on Boyd Gaming from $87.00 to $90.00 and gave the company a "hold" rating in a report on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating on shares of Boyd Gaming in a report on Monday, September 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Boyd Gaming in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Boyd Gaming presently has a consensus rating of "Hold" and a consensus price target of $88.67.

Boyd Gaming Stock Performance

Shares of BYD stock opened at $83.25 on Thursday. The stock has a fifty day moving average price of $84.56 and a 200 day moving average price of $77.97. The stock has a market cap of $6.67 billion, a PE ratio of 12.81, a P/E/G ratio of 2.34 and a beta of 1.30. Boyd Gaming has a 1 year low of $58.94 and a 1 year high of $88.49. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. The firm had revenue of $707.32 million during the quarter. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. Sell-side analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Insider Transactions at Boyd Gaming

In other news, Chairman Marianne Boyd Johnson sold 100,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $84.17, for a total value of $8,417,000.00. Following the sale, the chairman owned 1,504,379 shares in the company, valued at approximately $126,623,580.43. This represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen S. Thompson sold 15,906 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $83.25, for a total transaction of $1,324,174.50. Following the completion of the sale, the insider owned 38,609 shares in the company, valued at approximately $3,214,199.25. This trade represents a 29.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,438 shares of company stock worth $32,638,085 over the last three months. Insiders own 27.94% of the company's stock.

Institutional Investors Weigh In On Boyd Gaming

Institutional investors and hedge funds have recently bought and sold shares of the business. Ruffer LLP acquired a new stake in Boyd Gaming during the second quarter worth about $6,471,000. Counterpoint Mutual Funds LLC acquired a new stake in Boyd Gaming during the second quarter worth about $402,000. EP Wealth Advisors LLC acquired a new stake in Boyd Gaming during the first quarter worth about $206,000. Strs Ohio acquired a new stake in Boyd Gaming during the first quarter worth about $1,939,000. Finally, Oppenheimer & Co. Inc. bought a new position in Boyd Gaming in the 1st quarter worth about $598,000. Institutional investors and hedge funds 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.

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