PENN Entertainment (NASDAQ:PENN) Upgraded at Truist Financial

PENN Entertainment (NASDAQ:PENN) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $23.00 price target on the stock. Truist Financial’s price objective would suggest a potential upside of 35.85% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Benchmark began coverage on shares of PENN Entertainment in a research note on Tuesday, April 16th. They issued a “hold” rating for the company. Needham & Company LLC dropped 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 report on Friday, February 16th. Mizuho initiated coverage on PENN Entertainment in a report on Tuesday, March 26th. They set a “buy” rating and a $29.00 price objective on the stock. Morgan Stanley lifted their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Barclays dropped their target price on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.80.

PENN Entertainment Trading Up 2.4 %

Shares of PENN opened at $16.93 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -4.65 and a beta of 2.06. The stock has a fifty day moving average price of $17.85 and a two-hundred day moving average price of $21.44. PENN Entertainment has a 52-week low of $15.88 and a 52-week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. Analysts predict that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of PENN Entertainment by 0.7% in the 4th 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 last quarter. Earnest Partners LLC grew its holdings in PENN Entertainment by 11.1% during the third quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after purchasing an additional 271,254 shares during the period. Sei Investments Co. increased 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 purchasing an additional 725,221 shares in the last quarter. Norges Bank acquired a new stake in PENN Entertainment in the fourth quarter worth $42,758,000. Finally, ING Groep NV bought a new position in shares of PENN Entertainment during the fourth quarter worth $32,556,000. 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.