Wells Fargo & Co Cuts Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $40.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price target lowered by investment analysts at Wells Fargo & Co from $46.00 to $40.00 in a research report issued on Wednesday, The Fly reports. The firm presently has a “market perform” rating on the restaurant operator’s stock. Wells Fargo & Co‘s price objective would indicate a potential downside of 4.63% from the stock’s current price.

A number of other analysts have also recently commented on PLAY. BidaskClub upgraded Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. BMO Capital Markets cut their target price on Dave & Buster’s Entertainment to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Gordon Haskett lowered Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating and set a $41.70 price target on the stock. in a report on Wednesday, June 12th. ValuEngine lowered Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $40.00 price target (down previously from $55.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.48.

Shares of PLAY traded up $0.24 during midday trading on Wednesday, reaching $41.94. 279,190 shares of the stock were exchanged, compared to its average volume of 1,125,163. The business’s 50-day moving average price is $40.47 and its 200 day moving average price is $46.65. The company has a debt-to-equity ratio of 4.17, a current ratio of 0.28 and a quick ratio of 0.17. Dave & Buster’s Entertainment has a twelve month low of $37.21 and a twelve month high of $67.05. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.97 and a beta of 0.86.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its earnings results on Tuesday, September 10th. The restaurant operator reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.04. Dave & Buster’s Entertainment had a return on equity of 29.12% and a net margin of 9.06%. The business had revenue of $344.60 million for the quarter, compared to analysts’ expectations of $345.27 million. As a group, equities research analysts expect that Dave & Buster’s Entertainment will post 2.97 earnings per share for the current fiscal year.

In other Dave & Buster’s Entertainment news, SVP John Mulleady sold 7,500 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $39.94, for a total value of $299,550.00. Following the sale, the senior vice president now owns 21,319 shares of the company’s stock, valued at approximately $851,480.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Griffith acquired 5,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was acquired at an average cost of $39.32 per share, for a total transaction of $196,600.00. Following the acquisition, the director now directly owns 16,327 shares in the company, valued at approximately $641,977.64. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PLAY. DekaBank Deutsche Girozentrale purchased a new stake in shares of Dave & Buster’s Entertainment during the 2nd quarter worth approximately $36,000. Meeder Asset Management Inc. raised its position in shares of Dave & Buster’s Entertainment by 639.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,857 shares of the restaurant operator’s stock worth $75,000 after purchasing an additional 1,606 shares during the last quarter. Aperio Group LLC raised its position in shares of Dave & Buster’s Entertainment by 11.1% during the 2nd quarter. Aperio Group LLC now owns 4,571 shares of the restaurant operator’s stock worth $185,000 after purchasing an additional 457 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Dave & Buster’s Entertainment by 186.4% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 4,854 shares of the restaurant operator’s stock worth $196,000 after purchasing an additional 3,159 shares during the last quarter. Finally, Magnus Financial Group LLC acquired a new position in shares of Dave & Buster’s Entertainment during the 1st quarter worth approximately $215,000.

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: How analysts view the yield curve

The Fly

Analyst Recommendations for Dave & Buster`s Entertainment (NASDAQ:PLAY)

Receive News & Ratings for Dave & Buster's Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dave & Buster's Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply