Penn National Gaming (NASDAQ:PENN) had its price target hoisted by Morgan Stanley from $27.00 to $33.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. ValuEngine raised Penn National Gaming from a sell rating to a hold rating in a report on Friday, January 10th. TheStreet raised Penn National Gaming from a c+ rating to a b- rating in a report on Tuesday, September 24th. BidaskClub lowered Penn National Gaming from a strong-buy rating to a buy rating in a research note on Saturday, January 18th. JPMorgan Chase & Co. raised their price objective on Penn National Gaming from $25.00 to $29.00 and gave the company an overweight rating in a research note on Tuesday, December 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Penn National Gaming from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $26.50.

Shares of PENN traded down $0.07 during trading hours on Tuesday, hitting $25.83. 867,611 shares of the company were exchanged, compared to its average volume of 1,006,379. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 0.35 and a beta of 1.72. Penn National Gaming has a fifty-two week low of $16.72 and a fifty-two week high of $27.50. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 5.75. The firm’s fifty day moving average is $25.48 and its 200 day moving average is $21.27.

Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. Penn National Gaming had a return on equity of 5.88% and a net margin of 1.85%. The business’s revenue for the quarter was up 71.5% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. Analysts anticipate that Penn National Gaming will post 1.55 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System boosted its stake in Penn National Gaming by 1.6% in the fourth quarter. State of Michigan Retirement System now owns 32,100 shares of the company’s stock valued at $820,000 after buying an additional 500 shares in the last quarter. Strs Ohio boosted its stake in Penn National Gaming by 10.0% in the fourth quarter. Strs Ohio now owns 255,500 shares of the company’s stock valued at $6,530,000 after buying an additional 23,200 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Penn National Gaming by 5.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 19,885 shares of the company’s stock valued at $508,000 after buying an additional 938 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in Penn National Gaming in the fourth quarter valued at about $9,590,000. Finally, Cerebellum GP LLC acquired a new stake in Penn National Gaming in the fourth quarter valued at about $546,000. 98.58% of the stock is currently owned by institutional investors and hedge funds.

About Penn National Gaming

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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