Dave & Buster's Entertainment (NASDAQ:PLAY) Price Target Cut to $27.00 by Analysts at Truist Financial

Key Points

• Truist Financial has lowered the price target for Dave & Buster's Entertainment from $29.00 to $27.00, maintaining a "hold" rating, which suggests a potential upside of 4.29% from the current stock price.
• Despite the downgrade from Truist, other analysts have provided more optimistic price targets, with BMO Capital Markets raising their target from $30.00 to $35.00 and issuing an "outperform" rating.
• Dave & Buster's reported earnings of $0.76 per share for the recent quarter, missing estimates by $0.20, with a year-over-year revenue decline of 3.5%.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) had its target price dropped by equities researchers at Truist Financial from $29.00 to $27.00 in a research note issued on Wednesday, Marketbeat reports. The firm presently has a "hold" rating on the restaurant operator's stock. Truist Financial's price target points to a potential upside of 5.18% from the company's previous close.

Several other equities research analysts also recently commented on the stock. Piper Sandler upped their target price on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. BMO Capital Markets upped their target price on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Loop Capital upped their target price on shares of Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, UBS Group upped their target price on shares of Dave & Buster's Entertainment from $18.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $33.50.

Dave & Buster's Entertainment Trading Up 4.5%

Shares of PLAY traded up $1.10 on Wednesday, reaching $25.67. 692,184 shares of the company's stock were exchanged, compared to its average volume of 776,152. The company has a current ratio of 0.26, a quick ratio of 0.17 and a debt-to-equity ratio of 10.69. The stock has a market capitalization of $887.67 million, a P/E ratio of 25.42 and a beta of 2.04. The business has a 50 day moving average price of $28.97 and a two-hundred day moving average price of $23.99. Dave & Buster's Entertainment has a 12 month low of $15.08 and a 12 month high of $43.73.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). The business had revenue of $567.70 million for the quarter, compared to the consensus estimate of $572.12 million. Dave & Buster's Entertainment had a return on equity of 40.67% and a net margin of 1.83%.The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Research analysts anticipate that Dave & Buster's Entertainment will post 2.52 earnings per share for the current year.

Insider Activity at Dave & Buster's Entertainment

In related news, CEO Tarun Lal purchased 8,060 shares of Dave & Buster's Entertainment stock in a transaction dated Tuesday, July 22nd. The stock was bought at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the acquisition, the chief executive officer directly owned 8,060 shares of the company's stock, valued at $251,955.60. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Mulleady sold 5,931 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $32.79, for a total transaction of $194,477.49. Following the completion of the transaction, the senior vice president owned 42,550 shares of the company's stock, valued at $1,395,214.50. This trade represents a 12.23% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. boosted its holdings in Dave & Buster's Entertainment by 0.5% during the second quarter. Raymond James Financial Inc. now owns 121,847 shares of the restaurant operator's stock worth $3,665,000 after purchasing an additional 637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Dave & Buster's Entertainment by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,407 shares of the restaurant operator's stock worth $537,000 after purchasing an additional 728 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Dave & Buster's Entertainment during the second quarter worth $37,000. US Bancorp DE boosted its holdings in Dave & Buster's Entertainment by 442.0% during the first quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 1,273 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Dave & Buster's Entertainment by 7.7% during the fourth quarter. MetLife Investment Management LLC now owns 20,618 shares of the restaurant operator's stock worth $602,000 after purchasing an additional 1,479 shares during 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.