BMO Capital Markets Cuts Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $55.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its target price reduced by equities researchers at BMO Capital Markets from $65.00 to $55.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target points to a potential upside of 84.19% from the company’s previous close.

Several other research firms have also issued reports on PLAY. William Blair restated an “outperform” rating on shares of Dave & Buster’s Entertainment in a research report on Thursday, June 13th. UBS Group cut their target price on shares of Dave & Buster’s Entertainment from $66.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. Loop Capital lowered their price target on shares of Dave & Buster’s Entertainment from $86.00 to $63.00 and set a “buy” rating for the company in a report on Friday, June 14th. Finally, Truist Financial cut their price target on shares of Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.14.

Dave & Buster’s Entertainment Price Performance

PLAY stock opened at $29.86 on Wednesday. The firm has a market cap of $1.18 billion, a P/E ratio of 12.71 and a beta of 2.14. The firm’s fifty day moving average is $34.39 and its 200 day moving average is $47.29. Dave & Buster’s Entertainment has a 52 week low of $29.34 and a 52 week high of $69.82. The company has a debt-to-equity ratio of 4.41, a quick ratio of 0.24 and a current ratio of 0.32.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings results on Wednesday, June 12th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.44). The business had revenue of $588.10 million for the quarter, compared to analysts’ expectations of $615.88 million. Dave & Buster’s Entertainment had a net margin of 4.48% and a return on equity of 48.50%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 earnings per share. Research analysts predict that Dave & Buster’s Entertainment will post 2.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Darin Harper purchased 13,438 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was bought at an average cost of $38.78 per share, with a total value of $521,125.64. Following the completion of the purchase, the chief financial officer now directly owns 35,598 shares in the company, valued at $1,380,490.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several hedge funds have recently made changes to their positions in the company. Kimelman & Baird LLC purchased a new position in Dave & Buster’s Entertainment during the second quarter valued at $28,000. Principal Securities Inc. bought a new position in shares of Dave & Buster’s Entertainment in the 4th quarter worth about $38,000. Headlands Technologies LLC increased its stake in shares of Dave & Buster’s Entertainment by 23.4% in the 1st quarter. Headlands Technologies LLC now owns 1,227 shares of the restaurant operator’s stock worth $77,000 after acquiring an additional 233 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Dave & Buster’s Entertainment by 22,338.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,039 shares of the restaurant operator’s stock valued at $161,000 after acquiring an additional 4,021 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in Dave & Buster’s Entertainment during the second quarter worth about $207,000. 91.45% of the stock is currently owned by institutional investors.

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.