Analyst Price Target Update on Pinnacle Entertainment (NYSE:PNK)

Pinnacle Entertainment (NYSE:PNK): The stock price is expected to reach $ 24 in the short term. The number of analysts agreeing with this consensus is 3. The higher estimate for the short term price target is at $41 while the lower estimate is at $12. The standard deviation of the price stands at $15.13.

Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Telsey Advisory Group upgrades its outlook on Pinnacle Entertainment (NYSE:PNK). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Market Perform. The rating by the firm was issued on May 11, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, Sanfilippo Anthony Michael, CEO of Pinnacle Entertainment, Inc. had purchased 81,000 shares on June 3, 2016 in a transaction. The price per share was $10.88 and the total amount of the disclosed transaction was $881,280.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Pinnacle Entertainment (NYSE:PNK) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.52 points or 4.44% at $11.18 with 1,215,670 shares getting traded. Post opening the session at $11.71, the shares hit an intraday low of $11.175 and an intraday high of $11.71 and the price was in this range throughout the day. The company has a market cap of $683 million and the number of outstanding shares have been calculated to be 61,054,313 shares. The 52-week high of Pinnacle Entertainment (NYSE:PNK) is $41.66 and the 52-week low is $9.72.

Pinnacle Entertainment, Inc. (Pinnacle) is an owner, operator and developer of casinos and related hospitality and entertainment facilities. The key properties in the Companys Midwest segment include Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St. Charles, Belterra, River City and Belterra Park. The key properties in the Companys South segment include Ameristar Vicksburg, Boomtown Bossier City, Boomtown New Orleans, LAuberge Baton Rouge and LAuberge Lake Charles. The key properties in the Companys West segment include Ameristar Black Hawk and Cactus Petes and Horseshu. The Company owns and operates around 15 gaming entertainment properties in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, and Ohio. It also holds a majority interest in the racing license owner, as well as a management contract, for Retama Park Racetrack located outside of San Antonio, Texas.

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