PENN Entertainment (NASDAQ:PENN - Get Free Report) was upgraded by stock analysts at Truist Financial from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $23.00 price objective on the stock. Truist Financial's price objective suggests a potential upside of 31.96% from the company's current price.
Several other research analysts also recently issued reports on the company. Needham & Company LLC lowered their price objective on PENN Entertainment from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Benchmark began coverage on PENN Entertainment in a report on Tuesday, April 16th. They issued a "hold" rating on the stock. Morgan Stanley upped their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. Barclays cut their price target on PENN Entertainment from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Mizuho initiated coverage on PENN Entertainment in a report on Tuesday, March 26th. They set a "buy" rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.80.
Get Our Latest Report on PENN
PENN Entertainment Price Performance
NASDAQ PENN traded up $0.50 during trading on Tuesday, hitting $17.43. 5,183,916 shares of the company's stock were exchanged, compared to its average volume of 5,602,505. 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 has a market cap of $2.66 billion, a PE ratio of -4.79 and a beta of 2.06. PENN Entertainment has a fifty-two week low of $15.88 and a fifty-two week high of $31.63. The stock's 50 day moving average price is $17.75 and its two-hundred day moving average price is $21.42.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. Research analysts expect that PENN Entertainment will post -0.86 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC bought a new position in shares of PENN Entertainment during the 4th quarter worth $32,000. Huntington National Bank grew its stake in shares of 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 acquiring an additional 1,072 shares during the period. Lindbrook Capital LLC boosted its stake in PENN Entertainment by 57.1% in 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 period. Neo Ivy Capital Management bought a new position in PENN Entertainment in the 4th quarter worth about $40,000. Finally, Signaturefd LLC boosted its stake in PENN Entertainment by 60.8% in 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 period. Institutional investors own 91.69% of the company's stock.
About PENN Entertainment
(
Get Free Report)
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.
Further Reading
Before you consider PENN Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PENN Entertainment wasn't on the list.
While PENN Entertainment currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
