Dave & Buster’s Entertainment’s (PLAY) “Buy” Rating Reiterated at Piper Jaffray Companies
Piper Jaffray Companies reissued their buy rating on shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in a research note issued to investors on Thursday morning. Piper Jaffray Companies currently has a $69.00 price target on the restaurant operator’s stock.
Several other equities analysts have also recently issued reports on PLAY. Maxim Group reaffirmed a buy rating and issued a $78.00 price objective on shares of Dave & Buster’s Entertainment in a research report on Thursday, August 24th. BidaskClub cut Dave & Buster’s Entertainment from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. Wells Fargo & Company reaffirmed an outperform rating and issued a $78.00 price objective (up from $75.00) on shares of Dave & Buster’s Entertainment in a research report on Friday, June 9th. Canaccord Genuity upped their price objective on Dave & Buster’s Entertainment from $70.00 to $77.00 and gave the company a buy rating in a research report on Friday, June 9th. Finally, Zacks Investment Research cut Dave & Buster’s Entertainment from a buy rating to a hold rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Dave & Buster’s Entertainment currently has an average rating of Buy and a consensus price target of $74.11.
Dave & Buster’s Entertainment (PLAY) traded up 1.00% on Thursday, hitting $49.70. The stock had a trading volume of 1,107,855 shares. Dave & Buster’s Entertainment has a 1-year low of $39.15 and a 1-year high of $73.48. The company has a market cap of $2.04 billion, a P/E ratio of 19.35 and a beta of 0.59. The stock has a 50 day moving average price of $54.20 and a 200 day moving average price of $61.90.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. The company had revenue of $280.80 million for the quarter, compared to the consensus estimate of $281.69 million. Dave & Buster’s Entertainment had a return on equity of 24.58% and a net margin of 10.27%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. On average, equities research analysts expect that Dave & Buster’s Entertainment will post $2.70 EPS for the current fiscal year.
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Dave & Buster’s Entertainment declared that its board has initiated a stock repurchase plan on Friday, September 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, COO Margo Lynn Manning sold 10,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $66.46, for a total transaction of $664,600.00. Following the transaction, the chief operating officer now directly owns 15,447 shares of the company’s stock, valued at approximately $1,026,607.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP J Michael Plunkett sold 3,000 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $51.20, for a total value of $153,600.00. The disclosure for this sale can be found here. Insiders sold a total of 68,000 shares of company stock worth $3,565,675 over the last ninety days. 3.84% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLAY. Tower Research Capital LLC TRC lifted its holdings in shares of Dave & Buster’s Entertainment by 335.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,905 shares of the restaurant operator’s stock valued at $116,000 after buying an additional 1,468 shares during the period. Strs Ohio lifted its holdings in shares of Dave & Buster’s Entertainment by 76.9% during the 1st quarter. Strs Ohio now owns 2,300 shares of the restaurant operator’s stock valued at $140,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Dave & Buster’s Entertainment by 147.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,157 shares of the restaurant operator’s stock valued at $143,000 after buying an additional 1,286 shares during the period. Point72 Asia Hong Kong Ltd lifted its holdings in shares of Dave & Buster’s Entertainment by 14,258.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,441 shares of the restaurant operator’s stock valued at $149,000 after buying an additional 2,424 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Dave & Buster’s Entertainment during the 2nd quarter valued at $153,000.
Dave & Buster’s Entertainment Company Profile
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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