Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Gap Up After Analyst Upgrade

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s share price gapped up prior to trading on Wednesday after Piper Sandler raised their price target on the stock from $22.00 to $30.00. The stock had previously closed at $25.87, but opened at $28.85. Piper Sandler currently has a neutral rating on the stock. Dave & Buster’s Entertainment shares last traded at $30.19, with a volume of 1,257,503 shares trading hands.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price target on shares of Dave & Buster’s Entertainment from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial boosted their price target on shares of Dave & Buster’s Entertainment from $22.00 to $29.00 and gave the stock a “hold” rating in a report on Wednesday. Loop Capital boosted their price target on shares of Dave & Buster’s Entertainment from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group upped their target price on shares of Dave & Buster’s Entertainment from $18.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.83.

Institutional Trading of Dave & Buster’s Entertainment

Hedge funds have recently made changes to their positions in the company. Eminence Capital LP increased its stake in shares of Dave & Buster’s Entertainment by 3.6% in the fourth quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator’s stock worth $112,249,000 after buying an additional 135,095 shares during the last quarter. Patient Capital Management LLC lifted its holdings in Dave & Buster’s Entertainment by 36.6% in the fourth quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator’s stock worth $51,878,000 after purchasing an additional 476,662 shares during the period. Clearline Capital LP lifted its holdings in Dave & Buster’s Entertainment by 17.7% in the first quarter. Clearline Capital LP now owns 1,349,236 shares of the restaurant operator’s stock worth $23,706,000 after purchasing an additional 203,012 shares during the period. NewEdge Wealth LLC lifted its holdings in Dave & Buster’s Entertainment by 13.4% in the fourth quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator’s stock worth $21,235,000 after purchasing an additional 85,820 shares during the period. Finally, Boston Partners raised its position in Dave & Buster’s Entertainment by 1.9% in the first quarter. Boston Partners now owns 578,639 shares of the restaurant operator’s stock worth $10,169,000 after acquiring an additional 10,905 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Stock Up 0.8%

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.19 and a beta of 2.00. The stock’s fifty day simple moving average is $20.83 and its two-hundred day simple moving average is $24.08.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.20). The company had revenue of $567.70 million during the quarter, compared to analysts’ expectations of $572.12 million. Dave & Buster’s Entertainment had a return on equity of 44.22% and a net margin of 3.88%. Dave & Buster’s Entertainment’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. On average, sell-side analysts anticipate that Dave & Buster’s Entertainment Inc will post 2.52 EPS for the current year.

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 entrees 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.