Barclays Sticks to Their Buy Rating for PENN Entertainment (PENN)

In a report released today, Brandt Montour from Barclays maintained a Buy rating on PENN Entertainment, with a price target of $22.00.

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Montour covers the Consumer Cyclical sector, focusing on stocks such as Vail Resorts, DraftKings, and Norwegian Cruise Line. According to TipRanks, Montour has an average return of 6.0% and a 50.79% success rate on recommended stocks.

In addition to Barclays, PENN Entertainment also received a Buy from Mizuho Securities’s Benjamin Chaiken in a report issued on March 12. However, on March 17, TipRanks – Google reiterated a Hold rating on PENN Entertainment (NASDAQ: PENN).

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. Earlier this month, Jane Scaccetti, a Director at PENN bought 8,000.00 shares for a total of $120,720.00.