Pinnacle Entertainment, Inc. (NASDAQ:PNK) had its target price raised by Barclays PLC from $25.00 to $31.00 in a research report sent to investors on Wednesday. Barclays PLC currently has an overweight rating on the stock.
PNK has been the subject of several other research reports. Deutsche Bank AG raised their target price on shares of Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a hold rating in a report on Wednesday. Zacks Investment Research cut shares of Pinnacle Entertainment from a buy rating to a hold rating in a report on Thursday, July 13th. Telsey Advisory Group raised their target price on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an outperform rating in a report on Thursday, October 12th. Bank of America Corporation raised their target price on shares of Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a buy rating in a report on Wednesday. Finally, BidaskClub cut shares of Pinnacle Entertainment from a hold rating to a sell rating in a report on Thursday, August 24th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $27.57.
Shares of Pinnacle Entertainment (NASDAQ PNK) traded up $0.27 during trading on Wednesday, hitting $27.20. 405,000 shares of the company traded hands, compared to its average volume of 501,186. The company has a current ratio of 0.48, a quick ratio of 0.76 and a debt-to-equity ratio of -11.49. Pinnacle Entertainment has a 12-month low of $13.15 and a 12-month high of $27.37. The stock has a market capitalization of $1,547.20, a PE ratio of 35.43, a PEG ratio of 1.49 and a beta of 1.38.
Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The firm had revenue of $647.40 million during the quarter, compared to analysts’ expectations of $652.13 million. During the same quarter last year, the company posted ($0.01) earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. analysts predict that Pinnacle Entertainment will post 0.88 earnings per share for the current fiscal year.
In other news, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the completion of the transaction, the chairman now owns 828,562 shares in the company, valued at $15,618,393.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jaynie M. Studenmund sold 20,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $19.89, for a total transaction of $397,800.00. Following the sale, the director now owns 78,230 shares in the company, valued at approximately $1,555,994.70. The disclosure for this sale can be found here. 8.33% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PNK. Meeder Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment in the second quarter valued at about $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment in the first quarter valued at about $140,000. SG Americas Securities LLC acquired a new stake in shares of Pinnacle Entertainment in the third quarter valued at about $150,000. Pacad Investment Ltd. grew its position in shares of Pinnacle Entertainment by 212.3% in the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after purchasing an additional 6,580 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Pinnacle Entertainment in the third quarter valued at about $202,000. Institutional investors and hedge funds own 88.91% of the company’s stock.
Pinnacle Entertainment Company Profile
Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.
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