Wells Fargo & Company Forecasts Strong Price Appreciation for PENN Entertainment (NASDAQ:PENN) Stock

PENN Entertainment (NASDAQ:PENN) had its target price raised by Wells Fargo & Company from $20.00 to $24.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on PENN. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Jefferies Financial Group upped their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Bank of America assumed coverage on PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective for the company. Susquehanna dropped their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus upped their price objective on PENN Entertainment from $20.00 to $21.00 and gave the company a “hold” rating in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.63.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $20.76 on Monday. The stock has a market capitalization of $3.17 billion, a P/E ratio of -5.85, a P/E/G ratio of 1.55 and a beta of 2.09. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The business has a 50-day moving average price of $20.34 and a two-hundred day moving average price of $19.80.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc lifted its position in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after acquiring an additional 1,052 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in PENN Entertainment in the 3rd quarter valued at $45,000. Quest Partners LLC bought a new stake in shares of PENN Entertainment in the third quarter valued at about $56,000. Modus Advisors LLC bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $63,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares in 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.