Dave & Buster’s (PLAY) Shares Gap Down on Analyst Downgrade

Dave & Buster’s (NASDAQ:PLAY) shares gapped down prior to trading on Thursday after Maxim Group lowered their price target on the stock from $74.00 to $62.00. The stock had previously closed at $43.20, but opened at $40.60. Maxim Group currently has a buy rating on the stock. Dave & Buster’s shares last traded at $40.57, with a volume of 1173942 shares trading hands.

PLAY has been the topic of a number of other reports. SunTrust Banks set a $70.00 price objective on Dave & Buster’s and gave the company a “buy” rating in a report on Wednesday, March 7th. Canaccord Genuity restated a “buy” rating and issued a $60.00 target price (down previously from $70.00) on shares of Dave & Buster’s in a research note on Thursday, March 29th. ValuEngine downgraded Dave & Buster’s from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Wells Fargo lowered their target price on Dave & Buster’s from $66.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 9th. Finally, BMO Capital Markets lowered their target price on Dave & Buster’s to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.10.

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In related news, Director Kevin M. Sheehan bought 10,000 shares of the stock in a transaction dated Monday, January 8th. The shares were purchased at an average price of $45.58 per share, for a total transaction of $455,800.00. Following the completion of the purchase, the director now directly owns 60,138 shares of the company’s stock, valued at $2,741,090.04. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP J Michael Plunkett sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $46.60, for a total value of $93,200.00. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PLAY. Carillon Tower Advisers Inc. purchased a new position in Dave & Buster’s during the fourth quarter worth approximately $33,953,000. Hexavest Inc. purchased a new position in Dave & Buster’s during the fourth quarter worth approximately $33,396,000. William Blair Investment Management LLC purchased a new position in Dave & Buster’s during the fourth quarter worth approximately $27,806,000. Mackenzie Financial Corp boosted its position in Dave & Buster’s by 34.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,545,103 shares of the restaurant operator’s stock worth $85,243,000 after purchasing an additional 393,087 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in Dave & Buster’s by 74.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 808,525 shares of the restaurant operator’s stock worth $44,606,000 after purchasing an additional 345,048 shares in the last quarter.

The stock has a market capitalization of $1,610.46, a PE ratio of 15.99, a P/E/G ratio of 1.04 and a beta of 0.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.46 and a quick ratio of 0.26.

Dave & Buster’s (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, April 3rd. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $304.90 million for the quarter, compared to the consensus estimate of $304.82 million. Dave & Buster’s had a return on equity of 24.67% and a net margin of 10.61%. Dave & Buster’s’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. analysts expect that Dave & Buster’s will post 2.64 earnings per share for the current fiscal year.

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About Dave & Buster’s

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.

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