Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target Cut to $56.00 by Analysts at Truist Financial

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price target reduced by investment analysts at Truist Financial from $59.00 to $56.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price indicates a potential upside of 48.86% from the company’s previous close.

A number of other analysts have also issued reports on PLAY. BMO Capital Markets lowered their price target on Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Loop Capital lowered their target price on Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Benchmark assumed coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They issued a “hold” rating for the company. Finally, StockNews.com cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.57.

Dave & Buster’s Entertainment Stock Up 4.3 %

PLAY opened at $37.62 on Tuesday. The company has a market capitalization of $1.48 billion, a PE ratio of 13.73 and a beta of 2.13. The firm has a 50-day simple moving average of $35.91 and a two-hundred day simple moving average of $38.10. The company has a quick ratio of 0.14, a current ratio of 0.24 and a debt-to-equity ratio of 4.54. Dave & Buster’s Entertainment has a 52 week low of $29.31 and a 52 week high of $69.82.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 EPS for the quarter, topping the consensus estimate of $0.84 by $0.28. The company had revenue of $557.10 million during the quarter, compared to analyst estimates of $560.65 million. Dave & Buster’s Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. Analysts forecast that Dave & Buster’s Entertainment will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Daniel Morris acquired 14,912 shares of Dave & Buster’s Entertainment stock in a transaction dated Monday, October 7th. The stock was acquired at an average price of $33.67 per share, for a total transaction of $502,087.04. Following the transaction, the chief executive officer now owns 83,847 shares of the company’s stock, valued at $2,823,128.49. This represents a 21.63 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System boosted its stake in shares of Dave & Buster’s Entertainment by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the restaurant operator’s stock worth $645,000 after buying an additional 300 shares during the period. GDS Wealth Management raised its stake in Dave & Buster’s Entertainment by 3.3% during the 3rd quarter. GDS Wealth Management now owns 15,202 shares of the restaurant operator’s stock valued at $518,000 after acquiring an additional 488 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Dave & Buster’s Entertainment by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,757 shares of the restaurant operator’s stock worth $1,425,000 after acquiring an additional 546 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Dave & Buster’s Entertainment in the 2nd quarter valued at approximately $28,000. Finally, Cerity Partners LLC increased its holdings in shares of Dave & Buster’s Entertainment by 3.2% in the third quarter. Cerity Partners LLC now owns 23,204 shares of the restaurant operator’s stock valued at $790,000 after purchasing an additional 710 shares during the period. 91.45% of the stock is owned by institutional investors and hedge funds.

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.