Stifel Nicolaus Forecasts Strong Price Appreciation for PENN Entertainment (NASDAQ:PENN) Stock

PENN Entertainment (NASDAQ:PENN) had its price target lifted by research analysts at Stifel Nicolaus from $20.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 3.54% from the company’s previous close.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Macquarie lifted their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Susquehanna decreased their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Finally, Barclays cut their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.50.

PENN Entertainment Trading Up 0.4 %

PENN Entertainment stock opened at $21.77 on Tuesday. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $23.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.32 billion, a P/E ratio of -6.13, a P/E/G ratio of 1.53 and a beta of 2.09. The company’s fifty day simple moving average is $19.84 and its 200-day simple moving average is $19.52.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PENN. M&T Bank Corp grew its stake in shares of PENN Entertainment by 4.2% in the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after acquiring an additional 497 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in PENN Entertainment by 3.2% in the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock valued at $393,000 after purchasing an additional 620 shares during the period. XTX Topco Ltd grew its position in PENN Entertainment by 2.8% in the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after purchasing an additional 641 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of PENN Entertainment by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock worth $328,000 after purchasing an additional 665 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock valued at $293,000 after buying an additional 813 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.