Dave & Buster's Entertainment (NASDAQ:PLAY) Given New $22.00 Price Target at Truist Financial

Key Points

• Truist Financial has lowered its price target for Dave & Buster's Entertainment from $27.00 to $22.00, maintaining a "hold" rating, indicating a potential upside of 8.62% from its current price.
• In the latest earnings report, Dave & Buster's reported earnings per share of $0.32, significantly missing the consensus estimate of $0.92, with revenues also falling short of expectations.
• The stock has seen mixed ratings from analysts, with two analysts rating it as a buy and six giving it a hold, leading to a consensus rating of "Hold" with an average target price of $32.00.

Dave & Buster's Entertainment (NASDAQ:PLAY - Free Report) had its target price cut by Truist Financial from $27.00 to $22.00 in a research note released on Tuesday,Benzinga reports. They currently have a hold rating on the restaurant operator's stock.

A number of other equities research analysts have also weighed in on the company. Piper Sandler lowered their price objective on Dave & Buster's Entertainment from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday. Loop Capital lifted their price objective on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. UBS Group lowered their price objective on Dave & Buster's Entertainment from $29.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, BMO Capital Markets upped their price target on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.33.

Dave & Buster's Entertainment Stock Performance

PLAY stock traded down $0.78 during trading on Tuesday, hitting $19.61. The company had a trading volume of 2,781,460 shares, compared to its average volume of 1,583,784. The firm has a market cap of $679.88 million, a PE ratio of 57.68 and a beta of 2.04. Dave & Buster's Entertainment has a 1-year low of $15.08 and a 1-year high of $43.73. The firm has a 50-day moving average price of $26.23 and a 200-day moving average price of $23.98. The company has a quick ratio of 0.17, a current ratio of 0.33 and a debt-to-equity ratio of 9.32.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last issued its quarterly earnings results on Monday, September 15th. The restaurant operator reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.60). Dave & Buster's Entertainment had a net margin of 0.46% and a return on equity of 29.24%. The company had revenue of $557.40 million during the quarter, compared to analyst estimates of $565.43 million. During the same quarter last year, the firm earned $0.99 EPS. The business's revenue was up .1% on a year-over-year basis. On average, analysts expect that Dave & Buster's Entertainment will post 2.52 earnings per share for the current year.

Insider Transactions at Dave & Buster's Entertainment

In related news, CEO Tarun Lal bought 8,060 shares of Dave & Buster's Entertainment stock in a transaction that occurred on Tuesday, July 22nd. The shares were purchased at an average price of $31.26 per share, with a total value of $251,955.60. Following the purchase, the chief executive officer owned 8,060 shares in the company, valued at $251,955.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLAY. Ameriprise Financial Inc. lifted its stake in shares of Dave & Buster's Entertainment by 7.1% during the 4th quarter. Ameriprise Financial Inc. now owns 123,246 shares of the restaurant operator's stock worth $3,598,000 after purchasing an additional 8,159 shares during the period. Bank of America Corp DE increased its holdings in Dave & Buster's Entertainment by 50.7% in the 4th quarter. Bank of America Corp DE now owns 212,720 shares of the restaurant operator's stock valued at $6,209,000 after purchasing an additional 71,520 shares in the last quarter. Deutsche Bank AG increased its holdings in Dave & Buster's Entertainment by 50.9% in the 4th quarter. Deutsche Bank AG now owns 30,120 shares of the restaurant operator's stock valued at $879,000 after purchasing an additional 10,163 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Dave & Buster's Entertainment by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,407 shares of the restaurant operator's stock valued at $537,000 after purchasing an additional 728 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Dave & Buster's Entertainment by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 9,728 shares of the restaurant operator's stock valued at $284,000 after purchasing an additional 2,996 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company's stock.

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.