Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target Cut to $30.00 by Analysts at BMO Capital Markets

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its target price dropped by investment analysts at BMO Capital Markets from $47.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target points to a potential upside of 70.36% from the company’s previous close.

Several other brokerages also recently issued reports on PLAY. William Blair reiterated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. Loop Capital reduced their price objective on shares of Dave & Buster’s Entertainment from $45.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Piper Sandler lowered their target price on shares of Dave & Buster’s Entertainment from $33.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday. Gordon Haskett reaffirmed a “hold” rating and issued a $34.00 price target (down from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Finally, Truist Financial decreased their price objective on shares of Dave & Buster’s Entertainment from $27.00 to $21.00 and set a “hold” rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.00.

Dave & Buster’s Entertainment Price Performance

Shares of PLAY opened at $17.61 on Wednesday. Dave & Buster’s Entertainment has a 52 week low of $15.08 and a 52 week high of $61.56. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 6.38. The firm has a market cap of $678.04 million, a price-to-earnings ratio of 8.72 and a beta of 1.86. The stock has a 50 day moving average of $20.77 and a 200-day moving average of $28.65.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings data on Monday, April 7th. The restaurant operator reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Dave & Buster’s Entertainment had a net margin of 3.88% and a return on equity of 44.22%. The firm had revenue of $534.50 million during the quarter, compared to the consensus estimate of $548.77 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The firm’s revenue was down 10.8% on a year-over-year basis. As a group, analysts forecast that Dave & Buster’s Entertainment will post 2.52 EPS for the current year.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clearline Capital LP grew its stake in shares of Dave & Buster’s Entertainment by 1,768.8% in the 4th quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator’s stock worth $33,458,000 after purchasing an additional 1,084,890 shares during the last quarter. Patient Capital Management LLC grew its position 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 buying an additional 476,662 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Dave & Buster’s Entertainment by 1,100.8% in the fourth quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator’s stock valued at $12,405,000 after buying an additional 389,577 shares in the last quarter. Boston Partners increased its holdings in shares of Dave & Buster’s Entertainment by 132.5% in the fourth quarter. Boston Partners now owns 567,734 shares of the restaurant operator’s stock valued at $16,563,000 after buying an additional 323,595 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Dave & Buster’s Entertainment during the 4th quarter valued at $6,702,000. 91.45% of the stock is owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Company Profile

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.