Canaccord Genuity Reaffirms Buy Rating for Dave & Buster’s Entertainment (PLAY)

Dave & Buster’s Entertainment (NASDAQ:PLAY)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity in a research note issued on Wednesday. They currently have a $70.00 price objective on the restaurant operator’s stock. Canaccord Genuity’s target price would indicate a potential upside of 32.78% from the company’s current price.

Several other equities analysts have also commented on the company. Zacks Investment Research upgraded Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, October 10th. Piper Jaffray Companies restated an “overweight” rating and set a $69.00 price target (down from $74.00) on shares of Dave & Buster’s Entertainment in a research report on Friday, September 1st. TheStreet upgraded Dave & Buster’s Entertainment from a “c” rating to a “b-” rating in a research report on Thursday, November 9th. Wells Fargo & Company reiterated an “outperform” rating and issued a $71.00 price objective (down previously from $78.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, September 6th. Finally, Longbow Research started coverage on Dave & Buster’s Entertainment in a report on Friday, October 13th. They issued a “buy” rating and a $77.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.10.

Shares of Dave & Buster’s Entertainment (PLAY) traded down $0.17 during midday trading on Wednesday, reaching $52.72. The company’s stock had a trading volume of 6,850,300 shares, compared to its average volume of 855,444. The company has a market cap of $2,152.32, a price-to-earnings ratio of 21.16, a P/E/G ratio of 1.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.32. Dave & Buster’s Entertainment has a fifty-two week low of $45.71 and a fifty-two week high of $73.48.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its earnings results on Wednesday, December 6th. The restaurant operator reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $250.00 million for the quarter, compared to analyst estimates of $255.70 million. Dave & Buster’s Entertainment had a return on equity of 24.63% and a net margin of 10.20%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. sell-side analysts expect that Dave & Buster’s Entertainment will post 2.63 EPS for the current fiscal year.

Dave & Buster’s Entertainment announced that its board has initiated a stock buyback plan on Friday, September 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the restaurant operator to buy up to 4.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In other Dave & Buster’s Entertainment news, CFO Brian Jenkins sold 500 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $52.25, for a total transaction of $26,125.00. Following the sale, the chief financial officer now directly owns 5,042 shares of the company’s stock, valued at $263,444.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP J Michael Plunkett sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $51.20, for a total value of $153,600.00. The disclosure for this sale can be found here. Insiders have sold 5,500 shares of company stock valued at $284,325 in the last three months. 3.84% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLAY. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Dave & Buster’s Entertainment by 147.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,157 shares of the restaurant operator’s stock valued at $143,000 after buying an additional 1,286 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Dave & Buster’s Entertainment in the second quarter worth approximately $153,000. Aperio Group LLC bought a new position in Dave & Buster’s Entertainment in the second quarter worth approximately $202,000. First Republic Investment Management Inc. bought a new position in Dave & Buster’s Entertainment in the third quarter worth approximately $203,000. Finally, Teacher Retirement System of Texas bought a new position in Dave & Buster’s Entertainment in the second quarter worth approximately $224,000.

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Dave & Buster’s Entertainment Company Profile

Dave & Buster’s 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.

Analyst Recommendations for Dave & Buster`s Entertainment (NASDAQ:PLAY)

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