Canaccord Genuity Reiterates “Buy” Rating for Dave & Buster’s Entertainment (PLAY)

Dave & Buster’s Entertainment (NASDAQ:PLAY)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a report issued on Wednesday. They currently have a $70.00 price target on the restaurant operator’s stock. Canaccord Genuity’s price objective suggests a potential upside of 27.37% from the company’s current price.

Several other research firms have also recently commented on PLAY. Piper Jaffray Companies restated an “overweight” rating and set a $69.00 price target (down previously from $74.00) on shares of Dave & Buster’s Entertainment in a research note on Friday, September 1st. Zacks Investment Research upgraded Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Tuesday, August 22nd. TheStreet cut Dave & Buster’s Entertainment from a “b” rating to a “c” rating in a research note on Wednesday, October 4th. Maxim Group upped their price target on Dave & Buster’s Entertainment from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company restated an “outperform” rating and set a $71.00 price target (down previously from $78.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.10.

Shares of Dave & Buster’s Entertainment (NASDAQ PLAY) opened at $54.96 on Wednesday. The firm has a market capitalization of $2,150.00, a P/E ratio of 21.16, a PEG ratio of 1.36 and a beta of 0.58. Dave & Buster’s Entertainment has a fifty-two week low of $45.71 and a fifty-two week high of $73.48. The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 0.70.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings results on Thursday, December 7th. The restaurant operator reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. Dave & Buster’s Entertainment had a return on equity of 24.63% and a net margin of 10.20%. The business had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. sell-side analysts predict that Dave & Buster’s Entertainment will post 2.63 EPS for the current fiscal year.

Dave & Buster’s Entertainment declared that its board has initiated a stock buyback program on Friday, September 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the restaurant operator to buy up to 4.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Dave & Buster’s Entertainment news, CFO Brian Jenkins sold 2,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $52.30, for a total value of $104,600.00. Following the completion of the transaction, the chief financial officer now owns 5,042 shares in the company, valued at $263,696.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP J Michael Plunkett sold 3,000 shares of the stock in a transaction on Wednesday, October 4th. The stock was 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. Corporate insiders own 3.84% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Dave & Buster’s Entertainment by 3.2% in the second quarter. BlackRock Inc. now owns 4,571,266 shares of the restaurant operator’s stock valued at $304,033,000 after purchasing an additional 141,356 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Dave & Buster’s Entertainment by 414.8% in the third quarter. Mackenzie Financial Corp now owns 1,152,016 shares of the restaurant operator’s stock valued at $60,458,000 after purchasing an additional 928,227 shares during the last quarter. Voya Investment Management LLC grew its holdings in Dave & Buster’s Entertainment by 4.7% in the second quarter. Voya Investment Management LLC now owns 1,048,064 shares of the restaurant operator’s stock valued at $69,707,000 after purchasing an additional 47,031 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Dave & Buster’s Entertainment by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,040,184 shares of the restaurant operator’s stock valued at $54,589,000 after purchasing an additional 6,493 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Dave & Buster’s Entertainment by 10.5% in the second quarter. Victory Capital Management Inc. now owns 1,005,120 shares of the restaurant operator’s stock valued at $66,851,000 after purchasing an additional 95,338 shares during the last quarter.

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About Dave & Buster’s Entertainment

Dave & Buster’s 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.

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

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