BMO Capital Markets Lowers Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $30.00

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

A number of other research firms also recently issued reports on PLAY. Loop Capital dropped their target price on shares of Dave & Buster’s Entertainment from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. Piper Sandler dropped 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 research report on Tuesday. Gordon Haskett restated a “hold” rating and set a $34.00 target price (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Truist Financial lowered their price target on 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. Finally, William Blair reissued a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Dave & Buster’s Entertainment currently has an average rating of “Hold” and a consensus price target of $33.00.

Dave & Buster’s Entertainment Stock Performance

NASDAQ:PLAY opened at $17.61 on Wednesday. Dave & Buster’s Entertainment has a fifty-two week low of $15.08 and a fifty-two week high of $61.56. The firm’s 50 day moving average is $20.77 and its two-hundred day moving average is $28.65. The company has a market cap of $678.04 million, a P/E ratio of 8.72 and a beta of 1.86. 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 (NASDAQ:PLAY) last issued its earnings results on Monday, April 7th. The restaurant operator reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $534.50 million for the quarter, compared to analysts’ expectations of $548.77 million. Dave & Buster’s Entertainment had a return on equity of 44.22% and a net margin of 3.88%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. Analysts expect that Dave & Buster’s Entertainment will post 2.52 EPS for the current year.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLAY. Parallax Volatility Advisers L.P. lifted its stake in shares of Dave & Buster’s Entertainment by 9.3% in the fourth quarter. Parallax Volatility Advisers L.P. now owns 7,441 shares of the restaurant operator’s stock worth $217,000 after acquiring an additional 632 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Dave & Buster’s Entertainment by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,407 shares of the restaurant operator’s stock worth $537,000 after purchasing an additional 728 shares during the last quarter. KBC Group NV boosted its stake in shares of Dave & Buster’s Entertainment by 81.3% during the 4th quarter. KBC Group NV now owns 1,974 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 885 shares during the last quarter. Quarry LP acquired a new stake in shares of Dave & Buster’s Entertainment during the third quarter worth approximately $47,000. Finally, MetLife Investment Management LLC increased its stake in shares of Dave & Buster’s Entertainment by 7.7% in the fourth quarter. MetLife Investment Management LLC now owns 20,618 shares of the restaurant operator’s stock worth $602,000 after buying an additional 1,479 shares during the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

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.