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

PENN Entertainment (NASDAQ:PENN) had its price target raised by research analysts at Mizuho from $24.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 28.04% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on PENN. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Monday. Susquehanna decreased their price target on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. 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. Finally, Needham & Company LLC dropped their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of “Hold” and an average target price of $23.69.

PENN Entertainment Stock Down 5.9 %

PENN traded down $1.24 during midday trading on Tuesday, hitting $19.53. 1,040,448 shares of the company’s stock traded hands, compared to its average volume of 4,511,869. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $2.98 billion, a PE ratio of -5.52, a price-to-earnings-growth ratio of 1.55 and a beta of 2.09. PENN Entertainment has a one year low of $13.50 and a one year high of $23.08. The stock’s fifty day simple moving average is $20.34 and its 200-day simple moving average is $19.80.

Hedge Funds Weigh In On PENN Entertainment

Several large investors have recently added to or reduced their stakes in PENN. International Assets Investment Management LLC grew its stake in PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after buying an additional 3,057 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment in the third quarter worth about $45,000. Nisa Investment Advisors LLC raised its holdings in 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 last quarter. New York State Teachers Retirement System lifted its position in PENN Entertainment by 0.9% during the 3rd quarter. New York State Teachers Retirement System now owns 186,900 shares of the company’s stock valued at $3,525,000 after purchasing an additional 1,700 shares during the period. Finally, ASB Consultores LLC boosted its stake in shares of PENN Entertainment by 8.4% in the 3rd quarter. ASB Consultores LLC now owns 14,200 shares of the company’s stock valued at $268,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Company Profile

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.