Truist Financial Lowers Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $56.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its target price cut by Truist Financial from $59.00 to $56.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other brokerages have also commented on PLAY. Loop Capital decreased 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 report on Thursday, September 12th. StockNews.com lowered Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. BMO Capital Markets cut their price objective on Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Finally, Benchmark began coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Dave & Buster’s Entertainment presently has an average rating of “Hold” and an average target price of $61.57.

Dave & Buster’s Entertainment Price Performance

Shares of PLAY stock opened at $39.32 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. The company has a market capitalization of $1.55 billion, a PE ratio of 14.35 and a beta of 2.13. The firm’s 50-day moving average is $36.14 and its two-hundred day moving average is $37.99. Dave & Buster’s Entertainment has a 12 month low of $29.31 and a 12 month high of $69.82.

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 analysts’ consensus estimates of $0.84 by $0.28. The firm had revenue of $557.10 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. Analysts predict that Dave & Buster’s Entertainment will post 2.59 earnings per share for the current year.

Insider Buying and Selling at Dave & Buster’s Entertainment

In other news, CEO Christopher Daniel Morris purchased 14,912 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at $2,823,128.49. The trade was a 21.63 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of PLAY. Louisiana State Employees Retirement System grew 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 purchasing an additional 300 shares in the last quarter. GDS Wealth Management boosted its position in shares of 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 worth $518,000 after acquiring an additional 488 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Dave & Buster’s Entertainment in the 2nd quarter valued at about $28,000. Finally, Cerity Partners LLC raised its position in shares of Dave & Buster’s Entertainment by 3.2% during the 3rd quarter. Cerity Partners LLC now owns 23,204 shares of the restaurant operator’s stock worth $790,000 after acquiring an additional 710 shares in the last quarter. 91.45% of the stock is currently 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.