Deutsche Bank AG Increases Pinnacle Entertainment Inc (NASDAQ:PNK) Price Target to $27.00

Pinnacle Entertainment Inc (NASDAQ:PNK) had its price objective raised by stock analysts at Deutsche Bank AG from $20.00 to $27.00 in a research note issued to investors on Wednesday, November 8th. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential downside of 8.01% from the stock’s current price.

A number of other research analysts have also weighed in on PNK. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a report on Friday, August 11th. Zacks Investment Research raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Telsey Advisory Group upped their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Finally, Bank of America Corporation upped their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $27.57.

Pinnacle Entertainment (PNK) opened at $29.35 on Wednesday. The stock has a market capitalization of $1,668.44, a P/E ratio of 38.21, a PEG ratio of 1.74 and a beta of 1.38. 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 has a twelve month low of $13.30 and a twelve month high of $29.67.

Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $647.40 million for the quarter, compared to analyst estimates of $652.13 million. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. sell-side analysts forecast that Pinnacle Entertainment will post 0.81 EPS for the current year.

In other news, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were 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 in the company, valued at $15,618,393.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.33% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Pinnacle Entertainment in the second quarter valued at $121,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Pinnacle Entertainment in the first quarter valued at $140,000. SG Americas Securities LLC purchased a new stake in shares of Pinnacle Entertainment in the third quarter valued at $150,000. Pacad Investment Ltd. lifted 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 acquiring an additional 6,580 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Pinnacle Entertainment in the third quarter valued at $202,000. Institutional investors 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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