SunTrust Banks Downgrades Dave & Buster’s Entertainment (NASDAQ:PLAY) to Hold

Dave & Buster’s Entertainment (NASDAQ:PLAY) was downgraded by investment analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, The Fly reports.

PLAY has been the subject of several other reports. BidaskClub cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday. Maxim Group reissued a “buy” rating and issued a $67.00 price target on shares of Dave & Buster’s Entertainment in a research report on Tuesday, June 4th. BMO Capital Markets reissued an “outperform” rating and issued a $66.00 price target (up from $62.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Co cut shares of Dave & Buster’s Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.00.

Dave & Buster’s Entertainment stock opened at $51.53 on Wednesday. The firm has a market cap of $1.80 billion, a PE ratio of 17.59, a PEG ratio of 1.08 and a beta of 1.12. Dave & Buster’s Entertainment has a 12-month low of $42.78 and a 12-month high of $67.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.37 and a quick ratio of 0.26.



Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings data on Tuesday, June 11th. The restaurant operator reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.01). The firm had revenue of $363.58 million for the quarter, compared to analysts’ expectations of $371.72 million. Dave & Buster’s Entertainment had a return on equity of 27.71% and a net margin of 9.26%. Dave & Buster’s Entertainment’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts forecast that Dave & Buster’s Entertainment will post 3.06 earnings per share for the current year.

In other Dave & Buster’s Entertainment news, COO Margo Lynn Manning sold 10,000 shares of Dave & Buster’s Entertainment stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $57.30, for a total value of $573,000.00. Following the transaction, the chief operating officer now directly owns 23,960 shares in the company, valued at $1,372,908. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP J Michael Plunkett sold 4,000 shares of Dave & Buster’s Entertainment stock in a transaction on Monday, April 1st. The shares were sold at an average price of $50.36, for a total transaction of $201,440.00. Following the completion of the transaction, the senior vice president now owns 4,001 shares in the company, valued at $201,490.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,635 shares of company stock worth $2,185,020. 3.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLAY. Norges Bank acquired a new position in Dave & Buster’s Entertainment in the fourth quarter valued at $20,753,000. Lord Abbett & CO. LLC acquired a new position in Dave & Buster’s Entertainment in the fourth quarter valued at $16,629,000. 1060 Capital LLC acquired a new position in Dave & Buster’s Entertainment in the fourth quarter valued at $13,368,000. Mackenzie Financial Corp increased its stake in Dave & Buster’s Entertainment by 16.0% in the fourth quarter. Mackenzie Financial Corp now owns 2,075,402 shares of the restaurant operator’s stock valued at $92,480,000 after purchasing an additional 286,696 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Dave & Buster’s Entertainment by 61.2% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 594,860 shares of the restaurant operator’s stock valued at $29,666,000 after purchasing an additional 225,900 shares during the period.

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

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