Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target Lowered to $65.00 at BMO Capital Markets

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price target cut by BMO Capital Markets from $75.00 to $65.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

Several other equities analysts have also issued reports on PLAY. Piper Sandler restated a neutral rating and set a $71.00 target price (up from $50.00) on shares of Dave & Buster’s Entertainment in a research report on Thursday, April 4th. Truist Financial lowered their target price on shares of Dave & Buster’s Entertainment from $78.00 to $67.00 and set a buy rating for the company in a research note on Tuesday, June 11th. UBS Group reduced their price target on shares of Dave & Buster’s Entertainment from $66.00 to $56.00 and set a neutral rating on the stock in a research report on Wednesday, June 12th. Jefferies Financial Group upped their price objective on shares of Dave & Buster’s Entertainment from $60.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Finally, Raymond James reiterated a market perform rating on shares of Dave & Buster’s Entertainment in a report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Dave & Buster’s Entertainment has an average rating of Moderate Buy and a consensus price target of $64.56.

Dave & Buster’s Entertainment Price Performance

Dave & Buster’s Entertainment stock opened at $43.77 on Thursday. The business’s 50-day simple moving average is $52.64 and its 200 day simple moving average is $54.63. The company has a quick ratio of 0.23, a current ratio of 0.32 and a debt-to-equity ratio of 5.11. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 18.63 and a beta of 2.06. Dave & Buster’s Entertainment has a 12-month low of $33.07 and a 12-month high of $69.82.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings results on Wednesday, June 12th. The restaurant operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.44). Dave & Buster’s Entertainment had a return on equity of 50.06% and a net margin of 4.48%. The business had revenue of $588.10 million for the quarter, compared to the consensus estimate of $615.88 million. During the same period last year, the firm earned $1.45 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts anticipate that Dave & Buster’s Entertainment will post 3.15 earnings per share for the current year.

Insider Transactions at Dave & Buster’s Entertainment

In other news, Director Michael J. Griffith sold 5,203 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.57, for a total transaction of $341,160.71. Following the completion of the transaction, the director now directly owns 33,546 shares in the company, valued at approximately $2,199,611.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP John Mulleady sold 42,824 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $66.58, for a total value of $2,851,221.92. Following the sale, the senior vice president now directly owns 57,132 shares of the company’s stock, valued at approximately $3,803,848.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Griffith sold 5,203 shares of Dave & Buster’s Entertainment stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $65.57, for a total value of $341,160.71. Following the transaction, the director now owns 33,546 shares of the company’s stock, valued at approximately $2,199,611.22. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several hedge funds have recently added to or reduced their stakes in PLAY. Eminence Capital LP lifted its holdings in Dave & Buster’s Entertainment by 331.4% during the 3rd quarter. Eminence Capital LP now owns 3,635,435 shares of the restaurant operator’s stock worth $134,766,000 after purchasing an additional 2,792,780 shares during the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Dave & Buster’s Entertainment during the fourth quarter worth $72,730,000. Coronation Fund Managers Ltd. boosted its position in shares of Dave & Buster’s Entertainment by 273.6% in the first quarter. Coronation Fund Managers Ltd. now owns 1,005,479 shares of the restaurant operator’s stock valued at $62,943,000 after acquiring an additional 736,345 shares during the period. National Bank of Canada FI acquired a new position in shares of Dave & Buster’s Entertainment in the first quarter valued at about $31,300,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Dave & Buster’s Entertainment in the first quarter valued at about $30,229,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

About Dave & Buster’s Entertainment

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.