Dave & Buster’s Entertainment (NASDAQ:PLAY) Downgraded to “Hold” at SunTrust Banks

Dave & Buster’s Entertainment (NASDAQ:PLAY) was downgraded by analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a report issued on Wednesday, The Fly reports.

PLAY has been the subject of several other reports. BidaskClub lowered Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Maxim Group reissued a “buy” rating and set a $67.00 price objective on shares of Dave & Buster’s Entertainment in a report on Tuesday, June 4th. BMO Capital Markets reissued an “outperform” rating and set a $66.00 price objective (up from $62.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, April 3rd. Finally, Wells Fargo & Co lowered Dave & Buster’s Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.18.

Shares of NASDAQ PLAY opened at $51.53 on Wednesday. Dave & Buster’s Entertainment has a 1-year low of $42.78 and a 1-year high of $67.05. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.08 and a beta of 1.12. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.37 and a quick ratio of 0.26.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its quarterly earnings data on Tuesday, June 11th. The restaurant operator reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.01). Dave & Buster’s Entertainment had a net margin of 9.26% and a return on equity of 27.71%. The firm had revenue of $363.58 million for the quarter, compared to the consensus estimate of $371.72 million. During the same period last year, the company posted $1.04 earnings per share. Dave & Buster’s Entertainment’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts anticipate that Dave & Buster’s Entertainment will post 3.06 earnings per share for the current year.

In other Dave & Buster’s Entertainment news, COO Margo Lynn Manning sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $57.30, for a total transaction of $573,000.00. Following the sale, the chief operating officer now owns 23,960 shares in the company, valued at $1,372,908. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP J Michael Plunkett sold 4,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $50.36, for a total value of $201,440.00. Following the sale, the senior vice president now owns 4,001 shares in the company, valued at approximately $201,490.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,635 shares of company stock worth $2,185,020. Company insiders own 3.70% of the company’s stock.

Large investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC purchased a new stake in shares of Dave & Buster’s Entertainment during the first quarter worth $55,000. Stormborn Capital Management LLC purchased a new stake in shares of Dave & Buster’s Entertainment in the first quarter worth $86,000. Advisor Group Inc. raised its position in shares of Dave & Buster’s Entertainment by 14.1% in the first quarter. Advisor Group Inc. now owns 2,589 shares of the restaurant operator’s stock worth $129,000 after buying an additional 320 shares in the last quarter. Quantamental Technologies LLC raised its position in shares of Dave & Buster’s Entertainment by 57.5% in the first quarter. Quantamental Technologies LLC now owns 2,971 shares of the restaurant operator’s stock worth $148,000 after buying an additional 1,085 shares in the last quarter. Finally, Buffington Mohr McNeal purchased a new stake in shares of Dave & Buster’s Entertainment in the first quarter worth $155,000.

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 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.

Further Reading: What is a Leveraged Buyout (LBO)?

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