BMO Capital Markets Cuts Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $47.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price target decreased by BMO Capital Markets from $51.00 to $47.00 in a report released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the restaurant operator’s stock.

Several other research analysts also recently weighed in on PLAY. Loop Capital decreased their target price on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Truist Financial restated a “hold” rating and set a $36.00 target price (down from $56.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday. Benchmark began coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They issued a “hold” rating for the company. William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday. Finally, Gordon Haskett reiterated a “hold” rating and set a $34.00 target price (down from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.38.

Dave & Buster’s Entertainment Stock Up 7.8 %

PLAY opened at $27.48 on Wednesday. Dave & Buster’s Entertainment has a 1 year low of $25.00 and a 1 year high of $69.82. The firm has a 50 day moving average price of $36.31 and a 200 day moving average price of $36.78. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.14 and a current ratio of 0.29. The company has a market cap of $1.06 billion, a PE ratio of 13.60 and a beta of 2.13.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 EPS for the quarter, beating the consensus estimate of $0.84 by $0.28. The company had revenue of $557.10 million for the quarter, compared to analyst estimates of $560.65 million. Dave & Buster’s Entertainment had a return on equity of 44.22% and a net margin of 3.88%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. Sell-side analysts expect that Dave & Buster’s Entertainment will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Daniel Morris acquired 14,912 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was purchased at an average cost of $33.67 per share, for a total transaction of $502,087.04. Following the purchase, the chief executive officer now directly owns 83,847 shares in the company, valued at $2,823,128.49. This represents a 21.63 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin M. Sheehan purchased 37,735 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $25.48 per share, for a total transaction of $961,487.80. Following the acquisition, the chief executive officer now directly owns 139,011 shares of the company’s stock, valued at $3,542,000.28. This represents a 37.26 % increase in their position. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Dave & Buster’s Entertainment by 1,931.4% during the second quarter. SG Americas Securities LLC now owns 38,698 shares of the restaurant operator’s stock valued at $1,541,000 after purchasing an additional 36,793 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Dave & Buster’s Entertainment by 2.9% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 1,035,106 shares of the restaurant operator’s stock valued at $41,208,000 after buying an additional 29,627 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Dave & Buster’s Entertainment by 32.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 206,535 shares of the restaurant operator’s stock valued at $8,222,000 after buying an additional 51,022 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Dave & Buster’s Entertainment in the second quarter worth approximately $5,191,000. Finally, Louisiana State Employees Retirement System lifted its stake in Dave & Buster’s Entertainment by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the restaurant operator’s stock valued at $645,000 after acquiring an additional 300 shares during the last quarter. 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.