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

Truist Financial upgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. Truist Financial currently has $23.00 target price on the stock.

A number of other brokerages also recently issued reports on PENN. Benchmark initiated coverage on PENN Entertainment in a research report on Tuesday, April 16th. They set a hold rating for the company. Barclays lowered their price objective on PENN Entertainment from $27.00 to $26.00 and set an overweight rating for the company in a research report on Friday, April 19th. Morgan Stanley raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Macquarie lowered their price objective on PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research report on Friday, February 16th. Finally, Stifel Nicolaus lowered their price objective on PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of Moderate Buy and an average price target of $29.80.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $17.19 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a 12 month low of $15.88 and a 12 month high of $31.63. The stock has a 50-day moving average price of $17.61 and a two-hundred day moving average price of $21.36.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. On average, equities research analysts expect that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in PENN Entertainment by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after acquiring an additional 97,945 shares during the period. Earnest Partners LLC grew its stake in PENN Entertainment by 11.1% in the third quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after acquiring an additional 271,254 shares during the period. Sei Investments Co. grew its stake in PENN Entertainment by 52.8% in the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after acquiring an additional 725,221 shares during the period. Norges Bank acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $42,758,000. Finally, ING Groep NV acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $32,556,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.