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 target price lowered by investment analysts at Truist Financial from $59.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target would suggest a potential upside of 54.27% from the company’s previous close.

Several other research analysts also recently weighed in on PLAY. Benchmark initiated coverage on Dave & Buster’s Entertainment in a research note on Monday, October 7th. They set a “hold” rating on the stock. StockNews.com lowered Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Loop Capital dropped their price objective on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, BMO Capital Markets dropped their target price on Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating on the stock in a research 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 issued a buy rating to the stock. Based on data from MarketBeat, Dave & Buster’s Entertainment currently has a consensus rating of “Hold” and a consensus price target of $62.14.

Dave & Buster’s Entertainment Price Performance

Shares of PLAY stock opened at $36.30 on Tuesday. Dave & Buster’s Entertainment has a twelve month low of $29.31 and a twelve month high of $69.82. The stock has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $38.23. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 13.25 and a beta of 2.13. The company has a current ratio of 0.24, a quick ratio of 0.14 and a debt-to-equity ratio of 4.54.

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

Insider Buying and Selling at Dave & Buster’s Entertainment

In other Dave & Buster’s Entertainment news, CEO Christopher Daniel Morris acquired 14,912 shares of the business’s stock in a transaction on Monday, October 7th. The stock was bought at an average price of $33.67 per share, for a total transaction of $502,087.04. Following the acquisition, the chief executive officer now 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eminence Capital LP raised its position in shares of Dave & Buster’s Entertainment by 69.3% during the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock valued at $150,023,000 after buying an additional 1,542,154 shares during the period. American Century Companies Inc. boosted its stake in shares of Dave & Buster’s Entertainment by 8.2% in the second quarter. American Century Companies Inc. now owns 1,266,280 shares of the restaurant operator’s stock valued at $50,411,000 after purchasing an additional 95,499 shares during the period. Rubric Capital Management LP grew its stake 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 worth $48,767,000 after acquiring an additional 626,497 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Dave & Buster’s Entertainment by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,144,268 shares of the restaurant operator’s stock valued at $45,553,000 after purchasing an additional 25,138 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in 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 worth $41,208,000 after purchasing an additional 29,627 shares in the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

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.