Penn National Gaming (NASDAQ:PENN) had its price target lifted by research analysts at Union Gaming Research to $35.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Union Gaming Research’s target price would suggest a potential upside of 19.05% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $33.00 target price on shares of Penn National Gaming in a research note on Monday. Morgan Stanley raised their target price on shares of Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Deutsche Bank raised their target price on shares of Penn National Gaming from $29.00 to $32.00 in a research note on Monday. Barclays raised their target price on shares of Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Finally, Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $25.00.
Shares of Penn National Gaming (NASDAQ PENN) traded up $0.37 on Wednesday, reaching $29.40. 2,627,500 shares of the company’s stock traded hands, compared to its average volume of 1,279,536. The firm has a market capitalization of $2,644.51, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 7.25 and a beta of 1.04. Penn National Gaming has a 52 week low of $13.00 and a 52 week high of $30.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its position in Penn National Gaming by 14.0% during the third quarter. California Public Employees Retirement System now owns 211,180 shares of the company’s stock valued at $4,940,000 after purchasing an additional 25,980 shares during the period. Janney Montgomery Scott LLC lifted its position in Penn National Gaming by 51.9% during the third quarter. Janney Montgomery Scott LLC now owns 16,720 shares of the company’s stock valued at $391,000 after purchasing an additional 5,714 shares during the period. Bamco Inc. NY lifted its position in Penn National Gaming by 0.6% during the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock valued at $129,155,000 after purchasing an additional 35,400 shares during the period. Earnest Partners LLC acquired a new position in Penn National Gaming during the third quarter valued at $36,544,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Penn National Gaming during the third quarter valued at $4,965,000. Institutional investors own 97.61% of the company’s stock.
Penn National Gaming Company Profile
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.
