PENN Entertainment (NASDAQ:PENN) Upgraded by Truist Financial to Buy

Truist Financial upgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $23.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Benchmark began coverage on PENN Entertainment in a research report on Tuesday, April 16th. They set a hold rating for the company. StockNews.com downgraded shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Stifel Nicolaus cut their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a report on Friday, February 16th. Needham & Company LLC decreased their price objective on shares of PENN Entertainment from $33.00 to $32.00 and set a buy rating for the company in a research note on Friday, February 16th. Finally, Mizuho assumed coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They issued a buy rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $29.80.

PENN Entertainment Stock Up 3.0 %

Shares of NASDAQ:PENN opened at $17.43 on Tuesday. The company has a market capitalization of $2.66 billion, a P/E ratio of -4.79 and a beta of 2.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The stock’s fifty day simple moving average is $17.75 and its 200-day simple moving average is $21.42. PENN Entertainment has a 52-week low of $15.88 and a 52-week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (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%. As a group, equities research analysts forecast that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently made changes to their positions in PENN. Huntington National Bank increased its stake in shares of PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment during the 4th quarter worth $32,000. Lindbrook Capital LLC increased its position in shares of 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 last quarter. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at about $40,000. Finally, Signaturefd LLC lifted its position in shares of PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after purchasing an additional 727 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.