Pinnacle Entertainment, Inc. (NASDAQ:PNK) has been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $27.17.

Several research firms have recently weighed in on PNK. Zacks Investment Research upgraded Pinnacle Entertainment from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Saturday, November 11th. Bank of America Corporation raised their target price on Pinnacle Entertainment from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Telsey Advisory Group raised their target price on Pinnacle Entertainment from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Deutsche Bank AG raised their target price on Pinnacle Entertainment from $20.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Finally, BidaskClub upgraded Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th.

In related news, Director Jaynie M. Studenmund sold 20,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $19.89, for a total value of $397,800.00. Following the completion of the sale, the director now owns 78,230 shares of the company’s stock, valued at $1,555,994.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average cost of $18.85 per share, with a total value of $407,160.00. Following the purchase, the chairman now owns 828,562 shares of the company’s stock, valued at $15,618,393.70. The disclosure for this purchase can be found here. 8.33% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in Pinnacle Entertainment during the second quarter worth $121,000. SG Americas Securities LLC acquired a new stake in Pinnacle Entertainment during the third quarter worth $150,000. Dynamic Technology Lab Private Ltd acquired a new stake in Pinnacle Entertainment during the third quarter worth $202,000. Pacad Investment Ltd. increased its stake in Pinnacle Entertainment by 212.3% during the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after acquiring an additional 6,580 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in Pinnacle Entertainment during the third quarter worth $271,000. 92.62% of the stock is owned by institutional investors.

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Shares of Pinnacle Entertainment (NASDAQ:PNK) traded up $0.18 during mid-day trading on Monday, reaching $28.47. The company’s stock had a trading volume of 630,300 shares, compared to its average volume of 505,292. The stock has a market capitalization of $1,640.00 and a P/E ratio of 37.46. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of -11.36. Pinnacle Entertainment has a 52 week low of $13.30 and a 52 week high of $28.86.

Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $647.40 million for the quarter, compared to the consensus estimate of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. Pinnacle Entertainment’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) earnings per share. equities research analysts anticipate that Pinnacle Entertainment will post 0.81 EPS for the current year.

About Pinnacle Entertainment

Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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