Boyd Gaming (NYSE:BYD) had its price target upped by JPMorgan Chase & Co. from $24.00 to $30.00 in a report issued on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on BYD. Union Gaming Research cut shares of Boyd Gaming from a buy rating to a hold rating and set a $18.00 price target on the stock. in a research note on Wednesday, April 29th. Nomura increased their price objective on shares of Boyd Gaming from $22.00 to $29.00 and gave the stock a buy rating in a report on Tuesday, June 2nd. Susquehanna Bancshares lowered shares of Boyd Gaming from a positive rating to a neutral rating in a report on Thursday, July 23rd. Morgan Stanley increased their price objective on shares of Boyd Gaming from $29.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday. Finally, SunTrust Banks increased their price objective on shares of Boyd Gaming from $20.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $26.79.

Boyd Gaming stock opened at $23.67 on Wednesday. Boyd Gaming has a 12-month low of $6.44 and a 12-month high of $36.22. The stock has a market capitalization of $2.63 billion, a P/E ratio of -42.27 and a beta of 2.35. The firm’s 50-day moving average is $20.75 and its two-hundred day moving average is $21.48. The company has a debt-to-equity ratio of 4.67, a current ratio of 1.92 and a quick ratio of 1.88.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.45) by $0.47. Boyd Gaming had a negative net margin of 2.48% and a negative return on equity of 0.88%. The company had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $199.61 million. During the same period last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 75.2% compared to the same quarter last year. As a group, analysts forecast that Boyd Gaming will post -0.86 EPS for the current year.

In other news, EVP Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $23.69, for a total transaction of $2,369,000.00. Following the sale, the executive vice president now owns 285,498 shares in the company, valued at $6,763,447.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.08% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BYD. Norges Bank purchased a new stake in shares of Boyd Gaming during the fourth quarter valued at approximately $28,231,000. Eminence Capital LP acquired a new stake in shares of Boyd Gaming during the first quarter worth approximately $10,482,000. Mason Capital Management LLC acquired a new stake in shares of Boyd Gaming during the first quarter worth approximately $6,636,000. Drexel Morgan & Co. acquired a new stake in shares of Boyd Gaming during the first quarter worth approximately $5,768,000. Finally, MIK Capital LP acquired a new stake in shares of Boyd Gaming during the first quarter worth approximately $5,153,000. Institutional investors own 66.26% of the company’s stock.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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