Truist Financial Forecasts Strong Price Appreciation for Golden Entertainment (NASDAQ:GDEN) Stock

Golden Entertainment (NASDAQ:GDEN) had its target price lifted by Truist Financial from $25.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 2.63% from the company’s previous close.

Several other research analysts have also recently weighed in on GDEN. Weiss Ratings raised Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. JMP Securities reduced their price objective on shares of Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating for the company in a research report on Tuesday, September 16th. Citigroup reiterated an “outperform” rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Wells Fargo & Company reissued a “sell” rating and set a $30.00 target price (down from $34.00) on shares of Golden Entertainment in a research note on Thursday. Finally, Zacks Research upgraded shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.60.

Golden Entertainment Price Performance

NASDAQ GDEN opened at $29.23 on Friday. Golden Entertainment has a 12 month low of $19.57 and a 12 month high of $35.49. The firm has a market capitalization of $764.60 million, a PE ratio of 54.13 and a beta of 1.67. The company’s 50 day simple moving average is $23.26 and its 200 day simple moving average is $26.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. The firm had revenue of $154.82 million for the quarter, compared to the consensus estimate of $157.21 million. As a group, equities research analysts forecast that Golden Entertainment will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Golden Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in Golden Entertainment by 2.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 1,521,937 shares of the company’s stock valued at $35,692,000 after purchasing an additional 37,055 shares during the period. Gamco Investors INC. ET AL raised its position in Golden Entertainment by 5.2% during the second quarter. Gamco Investors INC. ET AL now owns 868,146 shares of the company’s stock valued at $25,550,000 after buying an additional 42,720 shares during the period. Deprince Race & Zollo Inc. lifted its stake in Golden Entertainment by 2.9% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 839,494 shares of the company’s stock worth $19,795,000 after acquiring an additional 23,476 shares in the last quarter. Penn Capital Management Company LLC lifted its stake in Golden Entertainment by 29.3% in the 1st quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock worth $17,827,000 after acquiring an additional 152,805 shares in the last quarter. Finally, Hill Path Capital LP boosted its position in Golden Entertainment by 477.8% during the 2nd quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after acquiring an additional 542,150 shares during the period. Institutional investors and hedge funds own 70.73% of the company’s stock.

About Golden Entertainment

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.