Wells Fargo Keeps Their Hold Rating on PENN Entertainment (PENN)

In a report released yesterday, Trey Bowers from Wells Fargo maintained a Hold rating on PENN Entertainment, with a price target of $27.00. The company’s shares closed yesterday at $16.01.

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Bowers covers the Consumer Cyclical sector, focusing on stocks such as Carnival, Viking Holdings, and DraftKings. According to TipRanks, Bowers has an average return of -4.1% and a 36.54% success rate on recommended stocks.

Currently, the analyst consensus on PENN Entertainment is a Moderate Buy with an average price target of $19.92, a 24.42% upside from current levels. In a report released on April 8, Morgan Stanley also assigned a Hold rating to the stock with a $16.00 price target.

Based on PENN Entertainment’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.81 billion and a GAAP net loss of $73 million. In comparison, last year the company earned a revenue of $1.67 billion and had a GAAP net loss of $133.3 million

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PENN in relation to earlier this year. Last month, Jane Scaccetti, a Director at PENN bought 8,000.00 shares for a total of $120,720.00.