Barclays Lowers PENN Entertainment (NASDAQ:PENN) Price Target to $22.00

PENN Entertainment (NASDAQ:PENN) had its target price cut by equities researchers at Barclays from $26.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 45.45% from the company’s previous close.

A number of other research firms have also issued reports on PENN. Truist Financial upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, April 23rd. Benchmark assumed coverage on shares of PENN Entertainment in a research note on Tuesday, April 16th. They set a “hold” rating on the stock. Stifel Nicolaus decreased their target price 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. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of PENN Entertainment in a research report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.93.

PENN Entertainment Stock Performance

PENN opened at $15.13 on Friday. The business has a fifty day simple moving average of $17.44 and a 200-day simple moving average of $21.16. The firm has a market cap of $2.30 billion, a PE ratio of -2.03 and a beta of 2.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38.

PENN Entertainment (NASDAQ:PENN) last released its quarterly 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 company 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 17.77% and a negative return on equity of 3.39%. As a group, equities analysts predict that PENN Entertainment will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank grew its position in PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in PENN Entertainment in the fourth quarter worth $32,000. Lindbrook Capital LLC increased its position in PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment during the fourth quarter valued at about $40,000. Finally, Signaturefd LLC lifted its position in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after buying an additional 727 shares during the last quarter. Institutional investors 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.