Dave & Buster’s Entertainment (PLAY) PT Raised to $84.00
Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price objective upped by equities researchers at Maxim Group from $78.00 to $84.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Maxim Group’s target price indicates a potential upside of 59.33% from the company’s current price.
Other research analysts have also issued research reports about the company. Canaccord Genuity reiterated a “buy” rating and set a $72.00 price target on shares of Dave & Buster’s Entertainment in a report on Sunday, October 22nd. Zacks Investment Research lowered Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Wells Fargo & Company reduced their price target on Dave & Buster’s Entertainment from $71.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, November 30th. BMO Capital Markets reiterated an “outperform” rating and set a $70.00 price target (down previously from $72.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, September 6th. Finally, Longbow Research started coverage on Dave & Buster’s Entertainment in a report on Friday, October 13th. They set a “buy” rating and a $77.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Dave & Buster’s Entertainment currently has an average rating of “Buy” and a consensus price target of $71.30.
Shares of Dave & Buster’s Entertainment (NASDAQ PLAY) traded down $0.17 on Wednesday, reaching $52.72. 6,850,232 shares of the company’s stock traded hands, compared to its average volume of 855,389. Dave & Buster’s Entertainment has a 52 week low of $45.71 and a 52 week high of $73.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.32 and a current ratio of 0.44. The firm has a market cap of $2,221.51, a PE ratio of 21.97, a PEG ratio of 1.35 and a beta of 0.58.
Dave & Buster’s Entertainment announced that its Board of Directors has initiated a stock repurchase plan on Friday, September 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, CFO Brian Jenkins sold 500 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $52.25, for a total value of $26,125.00. Following the sale, the chief financial officer now directly owns 5,042 shares in the company, valued at approximately $263,444.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen M. King sold 45,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 22,501 shares in the company, valued at $1,120,549.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,000 shares of company stock worth $2,901,075. 3.84% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. Hellman Jordan Management Co. Inc. MA purchased a new stake in Dave & Buster’s Entertainment during the third quarter worth about $570,000. GSA Capital Partners LLP increased its stake in Dave & Buster’s Entertainment by 298.1% during the third quarter. GSA Capital Partners LLP now owns 18,739 shares of the restaurant operator’s stock worth $983,000 after purchasing an additional 14,032 shares during the period. Piedmont Investment Advisors LLC increased its stake in Dave & Buster’s Entertainment by 13.2% during the third quarter. Piedmont Investment Advisors LLC now owns 9,163 shares of the restaurant operator’s stock worth $481,000 after purchasing an additional 1,068 shares during the period. California Public Employees Retirement System increased its stake in Dave & Buster’s Entertainment by 6.3% during the third quarter. California Public Employees Retirement System now owns 20,400 shares of the restaurant operator’s stock worth $1,071,000 after purchasing an additional 1,200 shares during the period. Finally, Wildcat Capital Management LLC purchased a new stake in Dave & Buster’s Entertainment during the third quarter worth about $3,149,000.
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About Dave & Buster’s Entertainment
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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