Barclays PLC Raises Pinnacle Entertainment, Inc. (PNK) Price Target to $31.00

Pinnacle Entertainment, Inc. (NASDAQ:PNK) had its price objective lifted by Barclays PLC from $25.00 to $31.00 in a report published on Wednesday morning. Barclays PLC currently has an overweight rating on the stock.

PNK has been the subject of a number of other research reports. Deutsche Bank AG lifted their price objective on Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a hold rating in a research report on Wednesday. Zacks Investment Research cut Pinnacle Entertainment from a buy rating to a hold rating in a research report on Thursday, July 13th. Telsey Advisory Group lifted their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an outperform rating in a research report on Thursday, October 12th. Bank of America Corporation lifted their price objective on Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday. Finally, BidaskClub cut Pinnacle Entertainment from a hold rating to a sell rating in a research report on Thursday, August 24th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pinnacle Entertainment has an average rating of Buy and a consensus target price of $27.57.

Shares of Pinnacle Entertainment (NASDAQ PNK) traded up $0.27 during mid-day trading on Wednesday, hitting $27.20. The stock had a trading volume of 405,000 shares, compared to its average volume of 569,622. Pinnacle Entertainment has a twelve month low of $13.15 and a twelve month high of $27.37. The stock has a market capitalization of $1,562.72, a PE ratio of 35.79, a P/E/G ratio of 1.51 and a beta of 1.38. 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 (NASDAQ:PNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The business had revenue of $647.40 million during the quarter, compared to analysts’ expectations of $652.13 million. During the same quarter last year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts forecast that Pinnacle Entertainment will post 0.81 EPS for the current year.

WARNING: This report was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.chaffeybreeze.com/2017/11/12/barclays-plc-raises-pinnacle-entertainment-inc-pnk-price-target-to-31-00.html.

In other Pinnacle Entertainment news, Director Jaynie M. Studenmund sold 20,000 shares of Pinnacle Entertainment stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $19.89, for a total value of $397,800.00. Following the completion of the sale, the director now owns 78,230 shares in the company, valued at approximately $1,555,994.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $18.85 per share, with a total value of $407,160.00. Following the acquisition, the chairman now directly owns 828,562 shares in the company, valued at $15,618,393.70. The disclosure for this purchase can be found here. Company insiders own 8.33% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Pinnacle Entertainment by 469.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock valued at $29,308,000 after buying an additional 1,222,680 shares during the period. Chicago Equity Partners LLC grew its holdings in Pinnacle Entertainment by 216.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 193,050 shares of the company’s stock valued at $3,815,000 after buying an additional 132,115 shares during the period. Renaissance Technologies LLC grew its holdings in Pinnacle Entertainment by 339.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock valued at $20,378,000 after buying an additional 796,800 shares during the period. Sound Point Capital Management LP grew its holdings in Pinnacle Entertainment by 35.8% in the 2nd quarter. Sound Point Capital Management LP now owns 638,102 shares of the company’s stock valued at $12,609,000 after buying an additional 168,203 shares during the period. Finally, Piedmont Investment Advisors LLC grew its holdings in Pinnacle Entertainment by 43.7% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 38,842 shares of the company’s stock valued at $768,000 after buying an additional 11,816 shares during the period. Institutional investors 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.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

Receive News & Ratings for Pinnacle Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Entertainment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply