Truist Financial Forecasts Strong Price Appreciation for Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price target lifted by Truist Financial from $22.00 to $29.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target indicates a potential downside of 5.51% from the company’s current price.

PLAY has been the topic of several other reports. UBS Group lifted their price objective 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. Piper Sandler cut their price objective on shares of Dave & Buster’s Entertainment from $33.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Loop Capital upped 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 research report on Wednesday. Finally, BMO Capital Markets boosted their target price on shares of Dave & Buster’s Entertainment from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.83.

Dave & Buster’s Entertainment Stock Up 0.8%

PLAY opened at $30.69 on Wednesday. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. Dave & Buster’s Entertainment has a 52 week low of $15.08 and a 52 week high of $46.90. The firm has a 50-day simple moving average of $20.83 and a two-hundred day simple moving average of $24.08. The company has a market capitalization of $1.06 billion, a PE ratio of 15.19 and a beta of 2.00.

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

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Large investors have recently modified their holdings of the company. Eminence Capital LP boosted its stake in Dave & Buster’s Entertainment by 3.6% during the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator’s stock worth $112,249,000 after purchasing an additional 135,095 shares during the period. Patient Capital Management LLC grew its holdings in shares of Dave & Buster’s Entertainment by 36.6% during 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 in the last quarter. Clearline Capital LP grew its holdings in shares of Dave & Buster’s Entertainment by 17.7% during the first quarter. Clearline Capital LP now owns 1,349,236 shares of the restaurant operator’s stock worth $23,706,000 after buying an additional 203,012 shares in the last quarter. NewEdge Wealth LLC boosted its position in shares of 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 acquiring an additional 85,820 shares during the last quarter. Finally, Boston Partners boosted its position in shares of 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 during the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

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.