Bally’s (NYSE:BALY) Price Target Raised to $14.00 at Stifel Nicolaus

Bally’s (NYSE:BALY) had its price target lifted by Stifel Nicolaus from $11.00 to $14.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 7.28% from the stock’s previous close.

A number of other research firms have also recently commented on BALY. Macquarie cut Bally’s from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th. Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price objective on shares of Bally’s in a report on Friday, January 5th. Finally, Truist Financial lifted their price target on shares of Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.71.

Bally’s Stock Performance

BALY stock traded down $0.11 during trading on Thursday, hitting $13.05. 404,019 shares of the company traded hands, compared to its average volume of 483,560. Bally’s has a 1 year low of $7.28 and a 1 year high of $17.83. The company has a market cap of $523.17 million, a PE ratio of -3.72 and a beta of 2.06. The stock’s 50-day simple moving average is $12.84 and its 200 day simple moving average is $11.89. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.65 and a quick ratio of 0.64.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.31). Bally’s had a negative return on equity of 17.92% and a negative net margin of 7.05%. The firm had revenue of $611.67 million for the quarter, compared to analyst estimates of $626.62 million. On average, equities analysts expect that Bally’s will post -3.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bally’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in shares of Bally’s by 100.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after buying an additional 1,926 shares in the last quarter. Garde Capital Inc. lifted its position in Bally’s by 25.0% during the third quarter. Garde Capital Inc. now owns 10,000 shares of the company’s stock worth $131,000 after buying an additional 2,000 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Bally’s by 35.6% during the 3rd quarter. New York State Common Retirement Fund now owns 11,369 shares of the company’s stock worth $149,000 after acquiring an additional 2,987 shares during the period. Shell Asset Management Co. acquired a new position in Bally’s in the 3rd quarter valued at about $206,000. Finally, Strs Ohio lifted its holdings in Bally’s by 96.8% in the third quarter. Strs Ohio now owns 24,600 shares of the company’s stock valued at $322,000 after acquiring an additional 12,100 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.