Penn National Gaming, Inc. (NASDAQ:PENN) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts have also recently weighed in on the stock. Barclays PLC upped their price target on shares of Penn National Gaming from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, April 6th. Stifel Nicolaus upped their price target on shares of Penn National Gaming from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, May 16th. FBR & Co reissued an “outperform” rating and issued a $23.00 price objective (up from $20.00) on shares of Penn National Gaming in a research note on Monday, April 10th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $14.00 price objective on shares of Penn National Gaming in a research note on Thursday, February 16th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Penn National Gaming presently has an average rating of “Buy” and a consensus target price of $19.50.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

Shares of Penn National Gaming (NASDAQ:PENN) traded up 3.06% during mid-day trading on Tuesday, hitting $21.90. 1,451,329 shares of the stock traded hands. The firm’s 50 day moving average price is $19.45 and its 200 day moving average price is $16.21. Penn National Gaming has a 12-month low of $11.93 and a 12-month high of $22.05. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 22.17 and a beta of 0.99.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. Penn National Gaming had a negative return on equity of 19.08% and a net margin of 2.97%. The company had revenue of $776.20 million for the quarter, compared to analyst estimates of $769.81 million. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Penn National Gaming will post $0.63 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Penn National Gaming, Inc. (PENN) Upgraded by BidaskClub to Strong-Buy” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/06/13/penn-national-gaming-inc-penn-upgraded-by-bidaskclub-to-strong-buy.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Penn National Gaming by 138,953.6% in the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock valued at $163,992,000 after buying an additional 8,891,641 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Penn National Gaming by 17.7% in the first quarter. Vanguard Group Inc. now owns 6,939,822 shares of the company’s stock valued at $127,901,000 after buying an additional 1,043,087 shares during the last quarter. Putnam Investments LLC raised its position in shares of Penn National Gaming by 11.2% in the fourth quarter. Putnam Investments LLC now owns 4,015,642 shares of the company’s stock valued at $55,376,000 after buying an additional 403,370 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Penn National Gaming by 1,387.8% in the first quarter. JPMorgan Chase & Co. now owns 1,839,178 shares of the company’s stock valued at $33,896,000 after buying an additional 1,715,562 shares during the last quarter. Finally, State Street Corp raised its position in shares of Penn National Gaming by 33.1% in the first quarter. State Street Corp now owns 1,814,936 shares of the company’s stock valued at $33,450,000 after buying an additional 451,424 shares during the last quarter. Institutional investors and hedge funds own 94.55% of the company’s stock.

About Penn National Gaming

Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.

Receive News & Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related companies with MarketBeat.com's FREE daily email newsletter.