Pinnacle Entertainment Inc (PNK) PT Raised to $31.00

Pinnacle Entertainment Inc (NASDAQ:PNK) had its price target raised by stock analysts at Barclays PLC from $25.00 to $31.00 in a note issued to investors on Wednesday, November 8th. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s price objective points to a potential upside of 5.62% from the stock’s previous close.

A number of other brokerages have also recently commented on PNK. Bank of America Corporation increased their target price on Pinnacle Entertainment from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Deutsche Bank AG upped their price target on Pinnacle Entertainment from $20.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Stifel Nicolaus upped their price target on Pinnacle Entertainment from $23.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. BidaskClub upgraded Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Finally, Telsey Advisory Group upped their price target on Pinnacle Entertainment from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pinnacle Entertainment has a consensus rating of “Buy” and an average target price of $27.57.

Pinnacle Entertainment (NASDAQ PNK) traded up $0.31 during midday trading on Wednesday, reaching $29.35. The company had a trading volume of 457,322 shares, compared to its average volume of 504,390. The firm has a market cap of $1,668.44, a PE ratio of 38.21, a price-to-earnings-growth ratio of 1.74 and a beta of 1.38. Pinnacle Entertainment has a 12 month low of $13.30 and a 12 month high of $29.67. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of -11.36.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $647.40 million during the quarter, compared to analysts’ expectations of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. Pinnacle Entertainment’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. equities analysts anticipate that Pinnacle Entertainment will post 0.81 EPS for the current fiscal year.

In other Pinnacle Entertainment news, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $15,618,393.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.33% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of Pinnacle Entertainment by 21.7% in the third quarter. Public Employees Retirement System of Ohio now owns 122,708 shares of the company’s stock valued at $2,615,000 after acquiring an additional 21,903 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Pinnacle Entertainment by 60.5% in the third quarter. GSA Capital Partners LLP now owns 129,464 shares of the company’s stock valued at $2,759,000 after acquiring an additional 48,797 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of Pinnacle Entertainment by 58.0% in the third quarter. Argent Capital Management LLC now owns 159,300 shares of the company’s stock valued at $3,395,000 after acquiring an additional 58,475 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Pinnacle Entertainment by 32.5% in the third quarter. California Public Employees Retirement System now owns 240,036 shares of the company’s stock valued at $5,115,000 after acquiring an additional 58,880 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in shares of Pinnacle Entertainment by 5.6% in the third quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock valued at $110,897,000 after acquiring an additional 275,100 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.

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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)

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