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Penn National Gaming (NASDAQ:PENN) was downgraded by equities researchers at Ned Davis Research from a “buy” rating to a “neutral” rating in a research report issued on Monday, Analyst Ratings Net reports.

Shares of Penn National Gaming (NASDAQ:PENN) traded down 0.69% during mid-day trading on Monday, hitting $12.99. 465,122 shares of the company’s stock traded hands. Penn National Gaming has a 1-year low of $10.6104 and a 1-year high of $15.50. The stock has a 50-day moving average of $14.15 and a 200-day moving average of $12.89. The company has a market cap of $1.001 billion and a P/E ratio of 11.61.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, October 17th. The company reported $0.43 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.46 by $0.03. The company had revenue of $714.40 million for the quarter, compared to the consensus estimate of $724.65 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Penn National Gaming will post $1.24 EPS for the current fiscal year.

PENN has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Penn National Gaming from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, December 25th. They now have a $14.90 price target on the stock. Separately, analysts at Wells Fargo & Co. upgraded shares of Penn National Gaming from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, November 18th. They noted that the move was a valuation call. Finally, analysts at DA Davidson initiated coverage on shares of Penn National Gaming in a research note to investors on Thursday, November 14th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.44.

Penn National Gaming, Inc (NASDAQ:PENN) is a diversified owner and manager of gaming and pari-mutuel properties.

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