Stifel Nicolaus Cuts Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $36.00

Dave & Buster’s Entertainment (NASDAQ:PLAY – Get Rating) had its target price reduced by Stifel Nicolaus from $45.00 to $36.00 in a research report released on Tuesday morning, The Fly reports.

A number of other brokerages also recently issued reports on PLAY. Piper Sandler boosted their price target on Dave & Buster’s Entertainment from $42.00 to $44.00 and gave the company a neutral rating in a report on Wednesday, June 8th. BMO Capital Markets boosted their price target on Dave & Buster’s Entertainment from $62.00 to $66.00 in a report on Wednesday, June 8th. Raymond James boosted their price target on Dave & Buster’s Entertainment from $55.00 to $60.00 and gave the company a strong-buy rating in a report on Wednesday, March 30th. Jefferies Financial Group boosted their price target on Dave & Buster’s Entertainment from $56.00 to $60.00 and gave the company a buy rating in a report on Wednesday, March 30th. Finally, StockNews.com started coverage on Dave & Buster’s Entertainment in a report on Thursday, March 31st. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $53.30.

PLAY opened at $32.51 on Tuesday. The company has a market cap of $1.59 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.63 and a beta of 1.82. The business’s 50-day moving average price is $39.80 and its 200-day moving average price is $39.81. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 1.23. Dave & Buster’s Entertainment has a 12 month low of $29.83 and a 12 month high of $52.54.

Dave & Buster’s Entertainment (NASDAQ:PLAY – Get Rating) last released its quarterly earnings data on Tuesday, June 7th. The restaurant operator reported $1.35 EPS for the quarter, topping the consensus estimate of $1.16 by $0.19. The firm had revenue of $451.10 million for the quarter, compared to the consensus estimate of $440.63 million. Dave & Buster’s Entertainment had a return on equity of 56.54% and a net margin of 10.47%. The company’s quarterly revenue was up 70.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Equities research analysts forecast that Dave & Buster’s Entertainment will post 3.47 earnings per share for the current fiscal year.

In related news, CEO Kevin M. Sheehan purchased 10,000 shares of the company’s stock in a transaction dated Friday, April 8th. The shares were purchased at an average cost of $40.58 per share, with a total value of $405,800.00. Following the transaction, the chief executive officer now directly owns 163,798 shares in the company, valued at approximately $6,646,922.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael Quartieri purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, April 13th. The stock was bought at an average cost of $45.28 per share, for a total transaction of $226,400.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares in the company, valued at $226,400. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 12,798 shares of company stock worth $538,161. Insiders own 3.21% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. AdvisorShares Investments LLC lifted its position in Dave & Buster’s Entertainment by 403.6% in the 4th quarter. AdvisorShares Investments LLC now owns 5,343 shares of the restaurant operator’s stock valued at $205,000 after acquiring an additional 4,282 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Dave & Buster’s Entertainment in the 4th quarter valued at approximately $319,000. Everence Capital Management Inc. lifted its position in Dave & Buster’s Entertainment by 53.7% in the 1st quarter. Everence Capital Management Inc. now owns 9,190 shares of the restaurant operator’s stock valued at $451,000 after acquiring an additional 3,210 shares in the last quarter. Gladius Capital Management LP bought a new position in Dave & Buster’s Entertainment in the 4th quarter valued at approximately $74,000. Finally, Exane Derivatives bought a new position in Dave & Buster’s Entertainment in the 4th quarter valued at approximately $40,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

About Dave & Buster’s Entertainment (Get Rating)

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.

See Also