Dave & Buster’s Entertainment, Inc. (PLAY) Given “Buy” Rating at Piper Jaffray Companies
Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)‘s stock had its “buy” rating reissued by equities research analysts at Piper Jaffray Companies in a research report issued on Thursday. They presently have a $69.00 price target on the restaurant operator’s stock. Piper Jaffray Companies’ target price points to a potential upside of 41.77% from the company’s current price.
A number of other equities research analysts have also recently weighed in on PLAY. Zacks Investment Research cut shares of Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Maxim Group restated a “buy” rating and issued a $78.00 price objective on shares of Dave & Buster’s Entertainment in a report on Wednesday, September 6th. Jefferies Group LLC upped their price objective on shares of Dave & Buster’s Entertainment from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Finally, BMO Capital Markets restated a “buy” rating and issued a $77.00 price objective (up previously from $64.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.11.
Shares of Dave & Buster’s Entertainment (NASDAQ PLAY) traded up 0.462% during trading on Thursday, reaching $48.895. 1,035,917 shares of the company traded hands. The firm’s 50 day moving average is $54.85 and its 200-day moving average is $62.07. The stock has a market capitalization of $2.01 billion, a P/E ratio of 19.033 and a beta of 0.59. Dave & Buster’s Entertainment has a 12-month low of $38.55 and a 12-month high of $73.48.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its quarterly earnings data on Tuesday, September 5th. The restaurant operator reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business had revenue of $280.80 million for the quarter, compared to analysts’ expectations of $281.69 million. Dave & Buster’s Entertainment had a net margin of 10.27% and a return on equity of 24.58%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, equities research analysts anticipate that Dave & Buster’s Entertainment will post $2.69 earnings per share for the current fiscal year.
Dave & Buster’s Entertainment announced that its board has approved a share buyback plan on Friday, September 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 4.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Stephen M. King sold 45,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $49.80, for a total transaction of $2,241,000.00. Following the sale, the chief executive officer now owns 22,501 shares in the company, valued at $1,120,549.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP J Michael Plunkett sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $51.20, for a total transaction of $153,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,000 shares of company stock worth $3,565,675. Corporate insiders own 3.84% of the company’s stock.
Several large investors have recently bought and sold shares of PLAY. Tower Research Capital LLC TRC grew its holdings in shares of Dave & Buster’s Entertainment by 335.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,905 shares of the restaurant operator’s stock valued at $116,000 after buying an additional 1,468 shares during the last quarter. Strs Ohio grew its holdings in shares of Dave & Buster’s Entertainment by 76.9% during the first quarter. Strs Ohio now owns 2,300 shares of the restaurant operator’s stock valued at $140,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Dave & Buster’s Entertainment by 147.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,157 shares of the restaurant operator’s stock valued at $143,000 after purchasing an additional 1,286 shares during the period. Point72 Asia Hong Kong Ltd lifted its position in Dave & Buster’s Entertainment by 14,258.8% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,441 shares of the restaurant operator’s stock valued at $149,000 after purchasing an additional 2,424 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in Dave & Buster’s Entertainment during the second quarter valued at approximately $153,000.
Dave & Buster’s Entertainment Company Profile
Dave & Busters Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of Fun American New Gourmet entrées 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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