Truist Financial Has Lowered Expectations for Dave & Buster's Entertainment (NASDAQ:PLAY) Stock Price

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 - Get Free Report) had its price objective lowered by research analysts at Truist Financial from $27.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the restaurant operator's stock. Truist Financial's target price indicates a potential upside of 8.62% from the company's current price.

PLAY has been the subject of several other reports. BMO Capital Markets upped their price target on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. UBS Group decreased their price objective on Dave & Buster's Entertainment from $29.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday. Loop Capital increased 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. Finally, Piper Sandler restated a "neutral" rating on shares of Dave & Buster's Entertainment in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Dave & Buster's Entertainment presently has a consensus rating of "Hold" and an average target price of $32.00.

Dave & Buster's Entertainment Price Performance

Shares of NASDAQ:PLAY traded down $3.94 during trading on Tuesday, hitting $20.26. 2,862,991 shares of the company were exchanged, compared to its average volume of 1,296,030. The business's 50 day moving average is $27.19 and its 200-day moving average is $24.01. The company has a market capitalization of $700.42 million, a P/E ratio of 19.98 and a beta of 2.04. The company has a quick ratio of 0.17, a current ratio of 0.26 and a debt-to-equity ratio of 10.69. Dave & Buster's Entertainment has a 1-year low of $15.08 and a 1-year high of $43.73.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced 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). The company had revenue of $557.40 million for the quarter, compared to analyst estimates of $565.43 million. Dave & Buster's Entertainment had a return on equity of 40.67% and a net margin of 1.83%.The firm's quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. Equities analysts forecast that Dave & Buster's Entertainment will post 2.52 earnings per share for the current year.

Insider Activity

In related news, CEO Tarun Lal acquired 8,060 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were bought at an average price of $31.26 per share, with a total value of $251,955.60. Following the transaction, the chief executive officer directly owned 8,060 shares of the company's stock, valued at $251,955.60. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dave & Buster's Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its position 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 in the last quarter. M.E. Allison & CO. Inc. bought a new position in Dave & Buster's Entertainment in the 1st quarter valued at about $1,542,000. GAMMA Investing LLC lifted its position in Dave & Buster's Entertainment by 71,493.5% in the 1st quarter. GAMMA Investing LLC now owns 76,605 shares of the restaurant operator's stock valued at $1,346,000 after acquiring an additional 76,498 shares in the last quarter. Bank of America Corp DE lifted its position 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 acquiring an additional 71,520 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Dave & Buster's Entertainment by 16.7% in the 1st quarter. Invesco Ltd. now owns 243,849 shares of the restaurant operator's stock valued at $4,284,000 after acquiring an additional 34,935 shares in the last quarter. 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.

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