Boyd Gaming (NYSE:BYD) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming (NYSE:BYD) in a research report issued on Monday, MarketBeat.com reports. The firm set a “neutral” rating and a $79.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 1.26% from the stock’s current price.

Several other research firms also recently weighed in on BYD. Macquarie reiterated a “neutral” rating and issued a $74.00 price target on shares of Boyd Gaming in a research report on Friday, April 25th. Stifel Nicolaus increased their price target on shares of Boyd Gaming from $71.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, June 5th. Wall Street Zen downgraded shares of Boyd Gaming from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Barclays decreased their price target on shares of Boyd Gaming from $78.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial decreased their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Boyd Gaming Trading Up 1.3%

Shares of BYD stock opened at $78.02 on Monday. Boyd Gaming has a 12-month low of $52.76 and a 12-month high of $80.50. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57. The firm’s 50 day moving average is $72.45 and its 200 day moving average is $72.18. The stock has a market capitalization of $6.35 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.98 and a beta of 1.26.

Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, April 24th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $976.38 million. During the same quarter last year, the company posted $1.51 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts expect that Boyd Gaming will post 6.52 earnings per share for the current year.

Institutional Trading of Boyd Gaming

Several institutional investors and hedge funds have recently modified their holdings of BYD. Boston Partners raised its position in shares of Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company’s stock valued at $287,185,000 after purchasing an additional 1,065,887 shares during the period. Norges Bank bought a new stake in Boyd Gaming in the 4th quarter valued at $55,553,000. Raymond James Financial Inc. bought a new stake in Boyd Gaming in the 4th quarter valued at $43,273,000. Arrowstreet Capital Limited Partnership increased its holdings in Boyd Gaming by 51.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company’s stock valued at $94,074,000 after acquiring an additional 441,963 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Boyd Gaming by 37.2% in the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company’s stock valued at $69,932,000 after acquiring an additional 261,443 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

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.