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

PENN Entertainment (NASDAQ:PENN) had its price target boosted by stock analysts at Mizuho from $24.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 24.44% from the stock’s current price.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $27.00 in a report on Friday, December 13th. Wells Fargo & Company raised their price target on PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America started coverage on PENN Entertainment in a report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target for the company. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Finally, Macquarie restated an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and a consensus target price of $23.69.

PENN Entertainment Price Performance

PENN opened at $20.09 on Tuesday. The stock has a fifty day simple moving average of $20.41 and a two-hundred day simple moving average of $19.81. 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 company has a market cap of $3.07 billion, a price-to-earnings ratio of -5.66, a price-to-earnings-growth ratio of 1.55 and a beta of 2.09. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $23.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at about $45,000. Quest Partners LLC purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at about $56,000. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the 4th quarter valued at about $63,000. Finally, International Assets Investment Management LLC lifted its position in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other 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.