Zacks: Analysts Set $7.50 Target Price for Drive Shack Inc (NYSE:DS)

Shares of Drive Shack Inc (NYSE:DS) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price target of $7.50 for the company and are forecasting that the company will post ($0.04) EPS for the current quarter, according to Zacks. Zacks has also given Drive Shack an industry rank of 213 out of 255 based on the ratings given to related companies.

Several research analysts have commented on the company. ValuEngine upgraded Drive Shack from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Zacks Investment Research upgraded Drive Shack from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities assumed coverage on Drive Shack in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $8.00 target price for the company.

DS stock opened at $4.13 on Friday. The company has a debt-to-equity ratio of 7.59, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $278.86 million, a price-to-earnings ratio of -9.60 and a beta of 1.33. Drive Shack has a fifty-two week low of $3.55 and a fifty-two week high of $6.62. The stock has a fifty day moving average of $4.18 and a 200-day moving average of $4.69.

Drive Shack (NYSE:DS) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.15). Drive Shack had a negative return on equity of 62.92% and a negative net margin of 15.99%. The firm had revenue of $71.62 million for the quarter, compared to the consensus estimate of $56.40 million. Equities analysts predict that Drive Shack will post -0.5 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Drive Shack by 95.4% during the 2nd quarter. Bank of Montreal Can now owns 10,523 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 5,138 shares during the last quarter. Angeles Investment Advisors LLC bought a new stake in shares of Drive Shack during the 2nd quarter valued at about $94,000. WINTON GROUP Ltd boosted its position in shares of Drive Shack by 9.8% during the 2nd quarter. WINTON GROUP Ltd now owns 35,727 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 3,179 shares during the last quarter. Eaton Vance Management bought a new stake in shares of Drive Shack during the 2nd quarter valued at about $392,000. Finally, GSA Capital Partners LLP boosted its position in shares of Drive Shack by 17.0% during the 2nd quarter. GSA Capital Partners LLP now owns 91,496 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 13,315 shares during the last quarter. Institutional investors and hedge funds own 58.75% of the company’s stock.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida. This segment also focuses on opening a chain of dining and entertainment golf venues in the United States and internationally, which combine golf, competition, dining, and fun.

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