Boyd Gaming Corp. (BYD): The Latest Casualty Of Increased Volatility?

Boyd Gaming Corp. (NYSE:BYD) does about 932.19K shares in volume on a normal day but saw 844400 shares change hands in Tuesday’s trading. The company now has a market cap of 5.22B USD. Its current market price is $54.98, marking an increase of 0.73% compared to the previous close of $54.58. The 52 week high reached by this stock is $73.00 whilst the lowest price level in 52 weeks is $52.42.

Boyd Gaming Corp. (BYD) has a 20-day trading average at $57.25 and the current price is -24.68% off the 52-week high compared with 4.88% distance from its 52-week low. The 50-day simple moving average of the closing price is $61.59 and its 200-day simple moving average is $62.08. If we look at the stock’s price movements over the week, volatility stands at 2.00%, which increases to 2.17% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 36.36 to suggest the stock is neutral.

The consensus objective for the share price is $70.09, suggesting that the stock has a potential upside of 21.56% over the period.

JP Morgan also downgraded the stock to “Neutral” from Overweight on April 26, 2024 at a price target of $80-$67. Deutsche Bank downgraded its price target at $78-$71.

Boyd Gaming Corp. (BYD) stock is up 1.01% over the week and -14.84% over the past month. Its price is -12.19% year-to-date and -19.53% over the past year.

To reach the target analysts have set, the stock logically needs to grow 21.56 percent from here.

The company has a return on investment of 10.55% and return on equity of 32.60%. The price to earnings ratio (P/E ratio) amounts to 9.88 while the forward price to earnings ratio is 8.39. The beta has a value of 1.61. Price to book ratio is 2.99 and price to sales ratio is 1.40.