Raymond James Financial Forecasts Strong Price Appreciation for Boyd Gaming (NYSE:BYD) Stock

Boyd Gaming (NYSE:BYD - Get Free Report) had its target price upped by Raymond James Financial from $81.00 to $85.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's target price would indicate a potential upside of 5.66% from the stock's previous close.

Several other research analysts have also issued reports on BYD. Macquarie reissued a "neutral" rating and set a $74.00 target price on shares of Boyd Gaming in a research note on Friday, April 25th. JPMorgan Chase & Co. assumed 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 on the stock. Stifel Nicolaus boosted their target price on Boyd Gaming from $71.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, June 5th. Susquehanna upped their price target on Boyd Gaming from $75.00 to $76.00 and gave the stock a "positive" rating in a research note on Friday, April 25th. Finally, Morgan Stanley cut their price target on Boyd Gaming from $75.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Boyd Gaming currently has an average rating of "Moderate Buy" and a consensus price target of $80.38.

Boyd Gaming Trading Up 2.8%

Shares of NYSE:BYD traded up $2.22 during midday trading on Monday, reaching $80.45. The company's stock had a trading volume of 1,185,627 shares, compared to its average volume of 910,884. Boyd Gaming has a fifty-two week low of $52.76 and a fifty-two week high of $80.92. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80. The firm has a 50 day moving average price of $73.85 and a two-hundred day moving average price of $72.31. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.99 and a beta of 1.26.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million during 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 firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. As a group, analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Boyd Gaming during the fourth quarter worth about $43,273,000. Assenagon Asset Management S.A. bought a new position in shares of Boyd Gaming during the 1st quarter worth approximately $1,963,000. SG Americas Securities LLC purchased a new position in shares of Boyd Gaming in the 1st quarter worth approximately $805,000. Ameriprise Financial Inc. grew its holdings in shares of Boyd Gaming by 19.1% in the fourth quarter. Ameriprise Financial Inc. now owns 193,768 shares of the company's stock valued at $14,057,000 after acquiring an additional 31,130 shares in the last quarter. Finally, Integrated Advisors Network LLC bought a new position in shares of Boyd Gaming in the first quarter valued at approximately $758,000. Hedge funds and other 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.