PENN Entertainment (NASDAQ:PENN) Upgraded to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat Ratings reports. Stifel Nicolaus currently has $21.00 price target on the stock, up from their prior price target of $19.00.

PENN has been the subject of several other research reports. Morgan Stanley restated a “sell” rating on shares of PENN Entertainment in a research note on Friday, July 11th. Barclays lowered their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday. Wall Street Zen cut PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PENN Entertainment in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and an average price target of $22.56.

PENN Entertainment Trading Down 0.8%

NASDAQ:PENN traded down $0.11 on Friday, reaching $14.54. 7,188,087 shares of the company’s stock were exchanged, compared to its average volume of 4,094,336. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -25.96 and a beta of 1.53. PENN Entertainment has a 52-week low of $13.25 and a 52-week high of $23.08. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. The business has a fifty day moving average of $18.22 and a 200-day moving average of $17.47.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts expect that PENN Entertainment will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of PENN Entertainment by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock valued at $43,000 after buying an additional 736 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of PENN Entertainment in the first quarter valued at about $344,000. Principal Financial Group Inc. boosted its stake in shares of PENN Entertainment by 2.4% during the first quarter. Principal Financial Group Inc. now owns 742,899 shares of the company’s stock worth $12,117,000 after buying an additional 17,752 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of PENN Entertainment by 8.5% during the first quarter. Envestnet Asset Management Inc. now owns 341,361 shares of the company’s stock worth $5,568,000 after buying an additional 26,606 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in shares of PENN Entertainment by 19.6% during the first quarter. Axxcess Wealth Management LLC now owns 30,575 shares of the company’s stock worth $499,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About PENN Entertainment

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.