Dave & Buster’s Entertainment (PLAY) Receives “Buy” Rating from Canaccord Genuity
Dave & Buster’s Entertainment (NASDAQ:PLAY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a report released on Wednesday. They currently have a $70.00 price objective on the restaurant operator’s stock. Canaccord Genuity’s price objective points to a potential upside of 32.78% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. BMO Capital Markets set a $72.00 price objective on Dave & Buster’s Entertainment and gave the stock an “outperform” rating in a research note on Tuesday, August 29th. Longbow Research started coverage on Dave & Buster’s Entertainment in a research note on Friday, October 13th. They issued a “buy” rating and a $77.00 price objective on the stock. TheStreet raised Dave & Buster’s Entertainment from a “c” rating to a “b-” rating in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $69.00 target price (down previously from $74.00) on shares of Dave & Buster’s Entertainment in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Dave & Buster’s Entertainment currently has a consensus rating of “Buy” and a consensus target price of $71.10.
Shares of Dave & Buster’s Entertainment (PLAY) traded down $0.17 during mid-day trading on Wednesday, reaching $52.72. The company’s stock had a trading volume of 6,850,300 shares, compared to its average volume of 855,444. Dave & Buster’s Entertainment has a fifty-two week low of $45.71 and a fifty-two 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 stock has a market capitalization of $2,152.32, a P/E ratio of 21.16, a PEG ratio of 1.36 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 buyback $100.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 4.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, SVP J Michael Plunkett sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $51.20, for a total value of $153,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Jenkins sold 500 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $52.25, for a total value of $26,125.00. Following the completion of the sale, the chief financial officer now directly owns 5,042 shares of the company’s stock, valued at approximately $263,444.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,500 shares of company stock worth $284,325 in the last ninety days. Insiders own 3.84% of the company’s stock.
Several institutional investors have recently bought and sold shares of PLAY. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dave & Buster’s Entertainment by 147.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,157 shares of the restaurant operator’s stock worth $143,000 after purchasing an additional 1,286 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Dave & Buster’s Entertainment in the 2nd quarter worth $153,000. Aperio Group LLC acquired a new stake in shares of Dave & Buster’s Entertainment in the 2nd quarter worth $202,000. First Republic Investment Management Inc. acquired a new stake in shares of Dave & Buster’s Entertainment in the 3rd quarter worth $203,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Dave & Buster’s Entertainment in the 2nd quarter worth $224,000.
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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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