Jefferies Financial Group Cuts Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $56.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its target price lowered by equities research analysts at Jefferies Financial Group from $60.00 to $56.00 in a research note issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 40.88% from the company’s previous close.

Other research analysts have also issued reports about the company. Maxim Group reaffirmed a “buy” rating and set a $67.00 target price on shares of Dave & Buster’s Entertainment in a research report on Tuesday, June 4th. BidaskClub lowered Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Loop Capital reduced their target price on Dave & Buster’s Entertainment to $55.00 and set a “buy” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. SunTrust Banks lowered Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the company from $64.00 to $47.00 in a research report on Wednesday. Finally, Gordon Haskett lowered Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating and set a $41.70 target price on the stock. in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Dave & Buster’s Entertainment presently has an average rating of “Buy” and a consensus price target of $56.70.

NASDAQ:PLAY traded down $11.78 during mid-day trading on Wednesday, hitting $39.75. 729,612 shares of the company’s stock traded hands, compared to its average volume of 886,758. Dave & Buster’s Entertainment has a twelve month low of $42.78 and a twelve month high of $67.05. The firm has a market capitalization of $1.80 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.08 and a beta of 1.12. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.37 and a quick ratio of 0.26.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its earnings results on Tuesday, June 11th. The restaurant operator reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.01). Dave & Buster’s Entertainment had a net margin of 9.26% and a return on equity of 27.71%. The business had revenue of $363.58 million for the quarter, compared to analyst estimates of $371.72 million. During the same period in the prior year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Dave & Buster’s Entertainment will post 3.06 EPS for the current year.

In other news, CMO John P. Gleason sold 8,200 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $54.85, for a total value of $449,770.00. Following the sale, the chief marketing officer now owns 23,458 shares in the company, valued at $1,286,671.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen M. King sold 10,935 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $54.69, for a total value of $598,035.15. Following the completion of the sale, the director now owns 43,186 shares in the company, valued at approximately $2,361,842.34. The disclosure for this sale can be found here. Insiders sold 40,635 shares of company stock worth $2,185,020 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PLAY. Bank of Montreal Can boosted its stake in shares of Dave & Buster’s Entertainment by 20.7% in the fourth quarter. Bank of Montreal Can now owns 15,708 shares of the restaurant operator’s stock worth $700,000 after buying an additional 2,695 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Dave & Buster’s Entertainment by 20.8% in the fourth quarter. Rhumbline Advisers now owns 109,864 shares of the restaurant operator’s stock worth $4,896,000 after buying an additional 18,921 shares during the last quarter. Dupont Capital Management Corp boosted its stake in shares of Dave & Buster’s Entertainment by 37.9% in the fourth quarter. Dupont Capital Management Corp now owns 12,804 shares of the restaurant operator’s stock worth $571,000 after buying an additional 3,517 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Dave & Buster’s Entertainment by 17.4% in the fourth quarter. Victory Capital Management Inc. now owns 814,354 shares of the restaurant operator’s stock worth $36,288,000 after buying an additional 120,524 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Dave & Buster’s Entertainment by 16.0% in the fourth quarter. Mackenzie Financial Corp now owns 2,075,402 shares of the restaurant operator’s stock worth $92,480,000 after buying an additional 286,696 shares during the last quarter.

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.

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