Dave & Buster’s Entertainment’s (PLAY) Buy Rating Reiterated at Maxim Group
Maxim Group restated their buy rating on shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in a research report report published on Thursday morning. They currently have a $78.00 target price on the restaurant operator’s stock.
“We maintain our Buy rating and $78 price target on Dave & Buster’s Entertainment (PLAY) ahead of the release of F2Q17 (July) results after the close on Tuesday, September 5.”,” Maxim Group’s analyst commented.
Several other research firms have also commented on PLAY. Jefferies Group LLC upped their target price on Dave & Buster’s Entertainment from $65.00 to $80.00 and gave the company a buy rating in a report on Friday, June 9th. Canaccord Genuity upped their target price on Dave & Buster’s Entertainment from $70.00 to $77.00 and gave the company a buy rating in a report on Friday, June 9th. BidaskClub raised Dave & Buster’s Entertainment from a buy rating to a strong-buy rating in a report on Friday, June 9th. SunTrust Banks, Inc. set a $85.00 target price on Dave & Buster’s Entertainment and gave the company a buy rating in a report on Wednesday, June 7th. Finally, Zacks Investment Research raised Dave & Buster’s Entertainment from a hold rating to a buy rating and set a $76.00 target price for the company in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $77.00.
Shares of Dave & Buster’s Entertainment (NASDAQ PLAY) opened at 59.68 on Thursday. The company’s 50 day moving average price is $62.94 and its 200-day moving average price is $62.86. The firm has a market cap of $2.48 billion, a P/E ratio of 25.26 and a beta of 0.64. Dave & Buster’s Entertainment has a 12-month low of $37.60 and a 12-month high of $73.48.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its earnings results on Thursday, June 8th. The restaurant operator reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.17. The company had revenue of $304.15 million during the quarter, compared to analyst estimates of $299.77 million. Dave & Buster’s Entertainment had a return on equity of 22.71% and a net margin of 9.78%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, equities research analysts anticipate that Dave & Buster’s Entertainment will post $2.62 EPS for the current year.
Dave & Buster’s Entertainment declared that its Board of Directors has initiated a stock buyback program on Tuesday, June 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, CEO Stephen M. King sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $71.69, for a total transaction of $5,376,750.00. Following the completion of the transaction, the chief executive officer now directly owns 37,501 shares in the company, valued at $2,688,446.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian Jenkins sold 22,500 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $66.53, for a total value of $1,496,925.00. Following the transaction, the chief financial officer now owns 1 shares of the company’s stock, valued at $66.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,186 shares of company stock valued at $10,085,186. Insiders own 5.60% of the company’s stock.
Several institutional investors have recently modified their holdings of PLAY. BlackRock Inc. increased its position in shares of Dave & Buster’s Entertainment by 128,117.4% in the first quarter. BlackRock Inc. now owns 4,429,910 shares of the restaurant operator’s stock valued at $270,623,000 after buying an additional 4,426,455 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Dave & Buster’s Entertainment during the second quarter worth $48,306,000. Mik Capital LLC purchased a new stake in Dave & Buster’s Entertainment during the second quarter worth $43,824,000. Ameriprise Financial Inc. increased its stake in Dave & Buster’s Entertainment by 129.3% in the first quarter. Ameriprise Financial Inc. now owns 999,640 shares of the restaurant operator’s stock worth $61,068,000 after buying an additional 563,599 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Dave & Buster’s Entertainment during the first quarter worth $31,865,000.
About Dave & Buster’s Entertainment
Dave & Busters 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.
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