BidaskClub upgraded shares of Penn National Gaming (NASDAQ:PENN) from a hold rating to a buy rating in a research note published on Friday, BidAskClub reports.

Several other research firms also recently issued reports on PENN. Wolfe Research assumed coverage on Penn National Gaming in a report on Friday, June 14th. They set a peer perform rating on the stock. Susquehanna Bancshares assumed coverage on Penn National Gaming in a report on Wednesday, July 24th. They set a positive rating and a $25.00 price objective on the stock. Morgan Stanley set a $27.00 price objective on Penn National Gaming and gave the stock a buy rating in a report on Friday, August 2nd. Deutsche Bank reiterated a buy rating and issued a $27.00 target price on shares of Penn National Gaming in a research report on Sunday, August 4th. Finally, Union Gaming Research upgraded Penn National Gaming from a hold rating to a buy rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $30.02.

PENN stock opened at $20.87 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 5.89. Penn National Gaming has a 52-week low of $16.72 and a 52-week high of $34.72. The stock’s 50 day moving average is $18.90 and its two-hundred day moving average is $20.07. The company has a market capitalization of $2.42 billion, a PE ratio of 22.44, a P/E/G ratio of 1.33 and a beta of 1.72.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.10. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $0.57 EPS. Penn National Gaming’s revenue for the quarter was up 60.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Penn National Gaming will post 1.55 EPS for the current year.

In other news, Director David A. Handler bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $17.68 per share, for a total transaction of $530,400.00. Following the transaction, the director now owns 169,870 shares in the company, valued at $3,003,301.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Saul Reibstein bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $17.30 per share, with a total value of $51,900.00. The disclosure for this purchase can be found here. 8.53% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. acquired a new position in shares of Penn National Gaming in the 2nd quarter worth approximately $29,000. MUFG Americas Holdings Corp acquired a new position in Penn National Gaming during the 2nd quarter valued at approximately $34,000. Quantamental Technologies LLC acquired a new position in Penn National Gaming during the 2nd quarter valued at approximately $57,000. Manchester Capital Management LLC acquired a new position in Penn National Gaming during the 1st quarter valued at approximately $63,000. Finally, Pearl River Capital LLC acquired a new position in Penn National Gaming during the 2nd quarter valued at approximately $130,000. Institutional investors own 99.39% of the company’s stock.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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