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 lowered by stock analysts at Truist Financial from $29.00 to $27.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the restaurant operator's stock. Truist Financial's price objective would indicate a potential upside of 4.29% from the stock's current price.

Other analysts have also issued research reports about the company. Piper Sandler lifted their price objective on Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. BMO Capital Markets boosted their price objective on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. UBS Group boosted their target price on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Finally, Loop Capital upped their price objective on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dave & Buster's Entertainment presently has a consensus rating of "Hold" and a consensus target price of $33.50.

Dave & Buster's Entertainment Stock Up 4.2%

Shares of NASDAQ:PLAY opened at $25.89 on Wednesday. The stock has a market capitalization of $895.28 million, a price-to-earnings ratio of 25.63 and a beta of 2.14. The stock has a fifty day simple moving average of $29.39 and a two-hundred day simple moving average of $23.98. Dave & Buster's Entertainment has a 12-month low of $15.08 and a 12-month high of $43.73. The company has a current ratio of 0.26, a quick ratio of 0.17 and a debt-to-equity ratio of 10.69.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). The business had revenue of $567.70 million during 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 firm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. On average, research analysts anticipate that Dave & Buster's Entertainment will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Dave & Buster's Entertainment

In other news, CEO Tarun Lal bought 8,060 shares of Dave & Buster's Entertainment stock in a transaction that occurred on 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 purchase, the chief executive officer directly owned 8,060 shares of the company's stock, valued at approximately $251,955.60. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John Mulleady sold 5,931 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total value 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. Corporate insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On Dave & Buster's Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE boosted its holdings in Dave & Buster's Entertainment by 442.0% in the 1st quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock worth $27,000 after buying an additional 1,273 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Dave & Buster's Entertainment in the 2nd quarter worth about $37,000. Signaturefd LLC boosted its holdings in shares of Dave & Buster's Entertainment by 1,427.5% during the 1st quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock worth $75,000 after purchasing an additional 3,997 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Dave & Buster's Entertainment by 3,974.8% in the first quarter. GAMMA Investing LLC now owns 4,360 shares of the restaurant operator's stock valued at $77,000 after purchasing an additional 4,253 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Dave & Buster's Entertainment in the first quarter valued at approximately $139,000. Hedge funds and other institutional investors 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.

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