Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target Lowered to $51.00 at BMO Capital Markets

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price objective decreased by equities research analysts at BMO Capital Markets from $55.00 to $51.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target would suggest a potential upside of 40.50% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Benchmark initiated coverage on Dave & Buster’s Entertainment in a research note on Monday, October 7th. They set a “hold” rating on the stock. Loop Capital decreased their price target 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. Truist Financial dropped their price objective on shares of Dave & Buster’s Entertainment from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com downgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.57.

Dave & Buster’s Entertainment Stock Performance

NASDAQ PLAY opened at $36.30 on Tuesday. The company has a debt-to-equity ratio of 4.54, a current ratio of 0.24 and a quick ratio of 0.14. Dave & Buster’s Entertainment has a 1-year low of $29.31 and a 1-year high of $69.82. The firm has a market capitalization of $1.43 billion, a P/E ratio of 13.25 and a beta of 2.13. The business’s 50-day simple moving average is $35.71 and its 200-day simple moving average is $38.23.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (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 net margin of 5.10% and a return on equity of 51.75%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities analysts predict that Dave & Buster’s Entertainment will post 2.62 EPS for the current year.

Insider Activity at Dave & Buster’s Entertainment

In other news, CEO Christopher Daniel Morris acquired 14,912 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average price of $33.67 per share, with a total value of $502,087.04. Following the acquisition, the chief executive officer now directly owns 83,847 shares in the company, valued at approximately $2,823,128.49. The trade was a 21.63 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in PLAY. Eminence Capital LP lifted its holdings in Dave & Buster’s Entertainment by 69.3% in the second quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after purchasing an additional 1,542,154 shares during the period. Rubric Capital Management LP boosted its holdings in shares of Dave & Buster’s Entertainment by 104.7% in the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock valued at $48,767,000 after acquiring an additional 626,497 shares in the last quarter. Sea Cliff Partners Management LP increased its stake in shares of Dave & Buster’s Entertainment by 90.8% during the second quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock valued at $20,504,000 after acquiring an additional 245,043 shares during the period. Marshall Wace LLP increased its stake in shares of Dave & Buster’s Entertainment by 36.2% during the second quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator’s stock valued at $25,482,000 after acquiring an additional 170,286 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in Dave & Buster’s Entertainment during the second quarter worth approximately $5,191,000. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Company Profile

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.