PENN Entertainment (NASDAQ:PENN) Upgraded to Buy at Stifel Nicolaus

PENN Entertainment (NASDAQ:PENN) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a $21.00 target price on the stock, up from their prior target price of $19.00. Stifel Nicolaus’ target price indicates a potential upside of 39.33% from the stock’s previous close.

Several other equities research analysts have also recently commented on PENN. Barclays cut their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Morgan Stanley reaffirmed a “sell” rating on shares of PENN Entertainment in a research report on Friday, July 11th. JMP Securities lifted their target price on PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.56.

PENN Entertainment Trading Up 2.9%

NASDAQ PENN traded up $0.42 on Friday, reaching $15.07. The company had a trading volume of 612,947 shares, compared to its average volume of 4,063,588. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -27.05 and a beta of 1.53. PENN Entertainment has a 52 week low of $13.25 and a 52 week high of $23.08. The stock’s 50 day moving average is $18.33 and its 200-day moving average is $17.47. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned ($0.24) EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities analysts predict that PENN Entertainment will post -1.61 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently modified their holdings of PENN. Parallel Advisors LLC boosted its holdings in shares of PENN Entertainment by 152.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after buying an additional 843 shares during the period. Quarry LP bought a new position in PENN Entertainment in the 1st quarter valued at about $30,000. GAMMA Investing LLC lifted its position in PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock worth $43,000 after acquiring an additional 736 shares during the last quarter. State of Wyoming bought a new stake in shares of PENN Entertainment during the first quarter worth approximately $46,000. Finally, Cloud Capital Management LLC bought a new stake in shares of PENN Entertainment during the third quarter worth approximately $54,000. Institutional investors and hedge funds 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.