Wells Fargo & Company Trims PENN Entertainment (NASDAQ:PENN) Target Price to $18.00

PENN Entertainment (NASDAQ:PENN - Get Free Report) had its price target dropped by Wells Fargo & Company from $21.00 to $18.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 19.01% from the stock's current price.

Several other research firms have also commented on PENN. Stifel Nicolaus reduced their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a report on Friday, February 16th. Barclays reduced their price target on shares of PENN Entertainment from $26.00 to $22.00 and set an "overweight" rating for the company in a report on Friday. Morgan Stanley boosted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. Benchmark restated a "hold" rating on shares of PENN Entertainment in a report on Friday. Finally, Canaccord Genuity Group reduced their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a "buy" rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $26.93.

PENN Entertainment Trading Up 0.8 %

Shares of PENN stock traded up $0.12 during trading hours on Friday, reaching $15.13. 8,571,369 shares of the stock were exchanged, compared to its average volume of 5,921,869. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $29.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The company's 50-day moving average price is $17.44 and its 200-day moving average price is $21.16. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -4.16 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, equities analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC purchased a new stake in PENN Entertainment during the 4th quarter worth approximately $32,000. Huntington National Bank grew its position in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company's stock worth $32,000 after purchasing an additional 1,072 shares during the last quarter. Lindbrook Capital LLC grew its position in PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company's stock worth $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in PENN Entertainment during the 4th quarter worth approximately $40,000. Finally, Signaturefd LLC grew its position in PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company's stock worth $44,000 after purchasing an additional 727 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.

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