BMO Capital Markets Has Lowered Expectations for Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price objective decreased by equities researchers at BMO Capital Markets from $51.00 to $47.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. BMO Capital Markets’ price objective suggests a potential upside of 49.59% from the stock’s current price.

A number of other brokerages have also issued reports on PLAY. Truist Financial reiterated a “hold” rating and set a $36.00 price target (down from $56.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday. Loop Capital lowered their target price on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Gordon Haskett reaffirmed a “hold” rating and issued a $34.00 price target (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday. Benchmark began coverage on shares of Dave & Buster’s Entertainment in a report on Monday, October 7th. They issued a “hold” rating on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three 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 an average price target of $55.13.

Dave & Buster’s Entertainment Stock Performance

NASDAQ PLAY traded down $5.38 during trading on Wednesday, reaching $31.42. The company’s stock had a trading volume of 5,258,185 shares, compared to its average volume of 1,283,850. The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.14 and a current ratio of 0.24. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 11.47 and a beta of 2.13. Dave & Buster’s Entertainment has a twelve month low of $29.31 and a twelve month high of $69.82. The business’s fifty day moving average price is $36.65 and its 200-day moving average price is $37.16.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted 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. Dave & Buster’s Entertainment had a net margin of 5.10% and a return on equity of 51.75%. The company had revenue of $557.10 million for the quarter, compared to analyst estimates of $560.65 million. During the same period in the previous year, the business posted $0.94 earnings per share. Dave & Buster’s Entertainment’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts anticipate that Dave & Buster’s Entertainment will post 2.59 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 stock in a transaction dated Monday, October 7th. The shares were bought at an average price of $33.67 per share, with a total value of $502,087.04. Following the purchase, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at approximately $2,823,128.49. This trade represents a 21.63 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several hedge funds have recently made changes to their positions in PLAY. Eminence Capital LP grew its stake in shares of Dave & Buster’s Entertainment by 69.3% in the 2nd 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 last quarter. Rubric Capital Management LP boosted its holdings in shares of Dave & Buster’s Entertainment by 104.7% during the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock worth $48,767,000 after purchasing an additional 626,497 shares during the period. Sea Cliff Partners Management LP lifted its stake in Dave & Buster’s Entertainment by 90.8% in 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 last quarter. Marshall Wace LLP raised its position in shares of Dave & Buster’s Entertainment by 36.2% in the second quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator’s stock valued at $25,482,000 after purchasing an additional 170,286 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of Dave & Buster’s Entertainment in the second quarter valued at approximately $5,191,000. 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.