Zacks: Brokerages Set $7.00 Price Target for Drive Shack Inc (DS)

Drive Shack Inc (NYSE:DS) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. Drive Shack’s rating score has improved by 66.7% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a twelve-month consensus target price of $7.00 for the company and are predicting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given Drive Shack an industry rank of 89 out of 255 based on the ratings given to related companies.

Several research analysts have weighed in on the stock. Imperial Capital raised shares of Drive Shack from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $5.00 to $7.00 in a research note on Monday, March 18th. Zacks Investment Research raised shares of Drive Shack from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Wednesday.



Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Drive Shack by 29.6% in the 4th quarter. FMR LLC now owns 10,054,065 shares of the real estate investment trust’s stock worth $39,412,000 after acquiring an additional 2,296,773 shares during the period. Trafelet Brokaw Capital Management L.P. boosted its stake in Drive Shack by 25.6% during the third quarter. Trafelet Brokaw Capital Management L.P. now owns 1,715,090 shares of the real estate investment trust’s stock worth $10,222,000 after buying an additional 349,449 shares during the period. BlackRock Inc. boosted its stake in shares of Drive Shack by 6.5% in the third quarter. BlackRock Inc. now owns 3,321,910 shares of the real estate investment trust’s stock valued at $19,798,000 after purchasing an additional 204,055 shares during the period. GSA Capital Partners LLP lifted its stake in Drive Shack by 129.3% in the third quarter. GSA Capital Partners LLP now owns 232,675 shares of the real estate investment trust’s stock worth $1,387,000 after acquiring an additional 131,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Drive Shack by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 600,991 shares of the real estate investment trust’s stock worth $2,355,000 after acquiring an additional 36,136 shares during the last quarter. 57.09% of the stock is owned by institutional investors and hedge funds.

Drive Shack stock traded down $0.12 during midday trading on Tuesday, hitting $5.17. 333,371 shares of the stock were exchanged, compared to its average volume of 225,025. Drive Shack has a fifty-two week low of $3.55 and a fifty-two week high of $8.06. The stock has a market cap of $346.53 million, a P/E ratio of -12.02 and a beta of 1.30. The company has a current ratio of 3.66, a quick ratio of 2.79 and a debt-to-equity ratio of 0.92.

Drive Shack (NYSE:DS) last released its quarterly earnings data on Thursday, March 14th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.20). Drive Shack had a negative return on equity of 27.87% and a negative net margin of 12.31%. The firm had revenue of $69.29 million for the quarter. As a group, analysts forecast that Drive Shack will post -0.28 EPS for the current year.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Traditional Golf Properties segment owns and operates golf properties in the United States. As of March 31, 2018, it owned, leased, or managed 74 properties in 12 states. The company's Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida.

Read More: NASDAQ Stock Market Explained

Get a free copy of the Zacks research report on Drive Shack (DS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Drive Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drive Shack and related companies with MarketBeat.com's FREE daily email newsletter.